One day the Queen was playing the harp in her own room when the King came in to ask her counsel how best to deal with Wayland, as he did not think it wise to put him to death, for he hoped to make some profit out of his skill. 'His heart will beat high,' said the Queen, 'when he sees his good sword, and beholds his ring on Banvilda's finger. But cut asunder the sinews of his strength, so that he can never more escape from us, and keep him a prisoner on the island of Savarsted.'
The King was pleased with the Queen's words, and sent soldiers to carry Wayland to the tower on the island. The sinews of his leg were cut so that he could not swim away; but they gave him his boots, and the chests of gold they had found in his house. Here he was left, with nothing to do from morning till night but to make helmets and drinking cups and splendid armour for the King.
On this island Wayland remained for a whole year, chained to a stone and visited by no one but the King, who came from time to time to see how his prisoner was getting on with a suit of golden armour he had been ordered to make. The shield was also of gold, and on it Wayland had beaten out a history of the gods and their great deeds. He was very miserable, for the hope of revenge which had kept him alive seemed as far off as ever in its fulfilment, and finding a sword he had lately forged lying close to his hand, he seized it, with the intent of putting an end to his wretched life. He had hardly stretched out his hand when a bird began to sing at the iron bars of his window, while the evening sun shone into his prison. 'I should like to see the world once more,' thought he, and, raising himself on the stone to which his chain was fastened, he was able to look at what lay beneath him. The sea washed the base of the rock on which the tower was built, and on a neck of land a little way off some children were playing before the door of a hut. Everything was bathed in red light from the glow of the setting sun.
Wayland stood quite still on the top of the stone, gazing at the scene with all his eyes, yet thinking of the land of his birth, which was so different. Then he looked again at the sea, which was already turning to steel, and in the distance he saw something moving on the waves. As it came nearer he discovered it was a young Nixie, or water sprite, and she held a lyre in her hand, and sang a song which blended with the murmur of the waves and the notes of the bird. And the song put new life and courage into his heart, for it told him that if he would endure and wait the pleasure of the gods, joy would be his one day.
The Nixie finished her song, and smiled up at Wayland at the window before turning and swimming over the waves till she dived beneath them. That same instant the bird flew away, and the moon was covered by a cloud. But Wayland's heart was cheered, and when he lay down to rest he slept quietly.
Some days later the King paid another visit, and suddenly espied the three keys which had been hidden in a corner with some of Wayland's tools. He at once asked Wayland what they were, and when he would not tell him the King grew so angry that, seizing an axe, he declared that he would put his prisoner to death unless he confessed all he knew. There was no help for it, and Wayland had to say how he came by them and what wonders they wrought. The King heard him with delight and went away, taking the keys with him.
No time was lost in preparing for a journey to the mountains, and when he reached the spot described by Wayland he divided his followers into three parties, sending two to await him some distance off, and keeping the third to enter the mountain with himself, if the copper key did the wonders it had done before. So he gave it to one of the bravest of his men, and told him to lay it against the side of the mountain. The man obeyed, and instantly the mountain split from top to bottom. The King bade them enter, never doubting that rich spoils awaited him; but instead the men sank into a green marsh, which swallowed up many of them, while the rest were stung to death by the green serpents hanging from the roof. Those who, like the King, were near the entrance alone escaped.
As soon as he had recovered from the terror into which this adventure had thrown him he commanded that it should be kept very secret from the other two parties, and desired Storbiorn, his Chamberlain, to take the key of iron and the key of gold and deliver them to the leaders of the divisions he had left behind, with orders to try their fortune in different parts of the mountain. 'Give the keys to me, my lord King,' answered Storbiorn, 'and I shall know what to do with them. These magicians may do their worst, my heart will not beat one whit the faster; and I will see all that happens.' So he went and gave his message to the two divisions, and one stayed behind while Storbiorn went to the mountain with the other.
When they arrived the man who held the key laid it against the rock, which burst asunder, and half the men entered at Storbiorn's command. Suddenly an icy blue stream poured upon them from the depths of the cavern and drowned most of them before they had time to fly. Only those behind escaped, and Storbiorn bade them go instantly to the King and tell him what had befallen them. Then he went to the third troop and marched with them to the rock, where he gave the golden key to one of the men, and ordered him to try it. The rock flew open at once, and Storbiorn told the men to enter, taking care, however, to keep behind himself. They obeyed and found themselves in a lovely golden cave, whose walls were lit up by thousands of precious stones of every hue. There was neither sight nor sound to frighten them, and even Storbiorn, when he saw the gold, forgot his prudence and his fears, and followed them in. In a moment a red fire burst out with a terrific noise, and clouds of smoke poured over them, so that they fell down choked into the flames. Only one man escaped, and he ran back as fast as he could to the King to tell him of the fate of his army.
All this time Wayland was working quietly in his island prison waiting for the day of his revenge. The suit of golden armour which the King had commanded kept him busy day and night, and, besides the wonderful shield with figures of the gods, he had wrought a coat of mail, a helmet, and armour for the thighs, such as never had been seen before. The King had invited all his great nobles to meet him at the Palace when he returned from the mountain, that they might both see his armour and behold all the precious things he should bring with him from the caverns.