[wakes up to someone knocking at his door]
All right, all right. Just a minute. [answers the door] Gandalf!
Gandalf [bows]
Greetings, Frodo.
Gandalf, it's really you! Oh, its been so long.
Gandalf Seventeen years, since Bilbo left. You look the same as ever, Frodo.
Gandalf I've been on a long journey.
It's the ring, isn't it? Bilbo's funny magic ring? You always use to look like that when you talked about it.
Gandalf Bilbo's funny ring? Makes you invisible? Give it to me, Frodo.
Gandalf For a moment only. [Frodo hands him the Ring] Can you see any markings on it?
There are none. Its quite a plain ring, really.
Gandalf Well then, look. [tosses the Ring in the fireplace; Frodo panics] Wait. Do you desire it so much already?
No, but...but why ruin it?
Gandalf Because it is altogether evil. It will corrupt and destroy anyone who wears it until he passes into the world of shadows under the power of Sauron, the Dark Lord of Mordor.
Gandalf [points at Frodo]
You are the one who has the Ring now. [hands the Ring back to Frodo]
It's...it's not even warm.
Gandalf No. Not even a dragon's fire can harm that Ring. Ash Nazg Durbatuluk. Ash Nazg Gimbatul. One Ring to rule them all. One Ring to find them. One Ring to bring them all and in the darkness bind them!
[Cut to Frodo and Gandalf, walking outside at nighttime]
I wish it need not happen in my time.
Gandalf So do I. The enemy still lacks one thing to give him strength and knowledge; to break all resistance and cover all the lands in darkness. He lacks the One Ring.
But, but maybe he doesn't know that it was found.
Gandalf He knows, Frodo. Gollum left his cave to follow the Ring himself and the Dark Lord caught him in Mordor. The Dark Lord knows what ring it was that Gollum found and how he lost it again. And he has heard of hobbits at last and of the Shire. And he even has a name to think about. The name of Baggins.
Because of Gollum. Oh, Gandalf, what am I to do? What a pity that Bilbo didn't kill that vile creature when he had the chance!
Gandalf Yes, it was pity. Pity and mercy. And now, Frodo, the decision lies with you. What will you do with the One Ring?
I'll give it to you, Gandalf! You're wise and powerful. What, will you not...
Gandalf No! Do not tempt me. I would wish to turn it to good and it cannot be used so. Meaning to be kind, I would become as terrible as the Dark Lord himself; do not tempt me! I shall have such need of strength so soon.
Then, I suppose, I must take the Ring and guard it and I hope to go away somewhere alone. They won't...they won't bother the Shire if the Ring isn't here.
Gandalf My dear Frodo, I'm afraid you are right. You'll have to go and leave the name of Baggins behind you. That name is no longer safe. Your new traveling name shall be...Mr. Underhill.
Gandalf I have come for your aid, Saruman the White, in troubled times. The Nine are abroad, darkness approaches; the Black Riders!
S Saruman
[walks away]
Is that all the news you have for me, then?
Gandalf Is that not enough? Sauron is moving at last!
S Saruman
We can deal with Sauron ourselves, Gandalf. You and I, one way or another.
Gandalf What talk is this? What are you saying, Saruman?
S Saruman
It is time for us to choose. A new age is upon us; a new power is rising. Nothing that men, or elves, or wizards can do will avail against it. Its enemies are utterly doomed. But its friends aren't.
Gandalf You are saying that we should join with Mordor? With him?
S Saruman
Does that displease you? WHERE IS THE RING, GANDALF?! Why do the Black Riders search for it in the Shire? Have you hidden it there? Would you rather see the Dark Lord have it...OR SARUMAN OF MANY COLORS?! [locks Gandalf in a magic force field]
Gandalf Neither of you will have it.
S Saruman
There is a third choice. [Wormtongue appears and hands Saruman his staff] It is to remain here until you tell me where the Ring may be found.
Gandalf Saurman, if you do this, if you delay me here, Sauron will surely get it then.
S Saruman
And he will know his good servants...and his enemies. [laughs]
Gandalf Saruman! [Saurman walks away, laughing] SARUMAN!!! SARUMAN!!!!
Gandalf Yes, this way! We should find our way down to the Great Gates by tonight!
G Gimli
I shall be glad! I doubt now the dwarves ever came back here!
L Legolas
Why should they come back? What was left for them to mine?
G Gimli
Mithril silver, the most precious metal in the world!
Gandalf I have come for your aid Saruman the White, in troubled times. The Nine are abroad, darkness approaches, the Black Riders!
S Saruman
Is that all the news you have for me then?
Gandalf Is that not enough? Sauron is moving at last!
S Saruman
We can deal with Sauron ourselves Gandalf. You, and I. One way or another.
Gandalf What talk is this? What are you saying Saruman?
S Saruman
It is time for us to choose. A new age is upon us, a new power is rising. Nothing that Elves or Men or Wizards can do will avail against it. Its enemies are utterly doomed, but its friends...
Gandalf You are saying that we should join with Mordor? With him?
S Saruman
Does that displease you? Where is the Ring Gandalf? Why do the Black riders search for it in the Shire? Have you hidden it there? Would you rather see the Dark Lord have it, or Saruman of Many Colours?
Gandalf Neither of you will have it.
S Saruman
There is a third choice. It is to remain here, until you tell me where the One Ring may be found.
Gandalf Saruman, if you do this, if you delay me here, Sauron will surely get it then.
S Saruman
Then he will know his good servants... and his enemies.
L Legolas
[examines Merry & Pippin’s tracks]
They were here, but where they went, I can’t tell.
[examines Treebeard’s footsteps]
I don’t understand these other marks.
[Enter Gandalf, disguised] ]
G Gimli
Look! Your bow, Legolas! It’s Saruman! Shoot, before he puts a spell on us! Quick!
Gandalf, disguised Elf, Man, and Dwarf together! A rare sight in these times!
G Gimli
Now! Stop him, Legolas!
[Gandalf magically disarms them all; unmasks]
Gandalf! Beyond all hope! Gandalf!
Gandalf Yes. Yes, that was my name!
Gandalf Long time I fell. Long I fell, and he fell with me. His fire was about me. I was burned! Ever he clutched me, and ever I hewed him, far under the living Earth… until at last he fled back, up the secret ways of Moria. There, we fought, above the mists of the earth, and the peak of the mountain was wreathed with lightning. I wandered far, on roads I will not tell. Naked I was sent back, until my task is done.