“Thanks, little feathered friend, for thy good news—I will go and seek for these treasures!” and nodding to the bird, Siegfried descended into Fafnir’s dark cave.

Mimi, from a safe hiding-place in the trees, had watched the fight between Fafnir and Siegfried. He now crept out, and anxiously peeped after Siegfried as he disappeared into the dragon’s hole. “Grant, O ye gods, that he take only the gold, and leave the Ring and the Cap for me!” prayed Mimi fervently.

Little did he guess how the singing bird had told Siegfried all he desired to keep most secret. He thought, “The bright, glittering gold will be sure to attract the youth more than a plain simple ring and a small cap of wrought chain.” Presently Siegfried came out of the cave. Mimi crawled stealthily back to his hiding-place and peered out through the leaves.

“A curse on him!” he muttered, grinding his teeth with rage. “The Ring is on his finger, and the Cap hangs from his belt!”

Siegfried looked round for his piping friend; perched on the branch of a lime tree the bird awaited him.

“Hey! Siegfried has now both Ring and Cap! Siegfried the Victor! But oh, he must beware of the treacherous dwarf! The dragon’s blood will reveal to him the hidden meaning of all words—both true and false. His thoughts shall Siegfried hear when the dwarf Mimi speaks.”

Carefully carrying his poisonous draught, Mimi now approached.

“Thou art tired after thy mighty conflict. See what I bring to restore thee! Take but a sip, and all I have worked and waited for will be mine—sword, treasure, and all.” Mimi thought he was saying something very pleasant. He smiled and cringed as he offered the drinking-horn. But these were his thoughts as Siegfried heard them, in virtue of his newly gained power.

“So thou wouldst rob me of everything, even of life?” asked Siegfried sternly.

“How falsely dost thou distort my kind words!” replied Mimi in an injured tone. “Yet I give myself much trouble to disguise my true thoughts. Dear heart, thee and thy kin have I ever hated.” (Mimi here looked lovingly at Siegfried.) “All these years I fostered thee, that thou mightest win for me the dragon’s hoard. Come, now, take the draught; thou wert ever easy to fool.”