Mime the Nibelung stood working at his forge one summer day in the gloomy forest cavern that served him as a dwelling-place; and as he hammered at a fine long sword he had laid upon the anvil, he was filled with despondency, knowing that, in spite of all his skill in forging, he could not make a sword that would not be splintered at the first mighty stroke of the noble youth for whom it was intended.

For Mime, though but a hideous gnome of evil disposition, and full of guile, had been the means of preserving the precious infant life of Siegfried, the promised hero-son of Siegmund and Sieglinde; and he had nourished him with great care, knowing that this child was destined, in years to come, to slay Fafner, the giant dragon that guarded the mighty treasure of his Nibelung brother, Alberic.

He cunningly hoped by means of Siegfried to obtain this coveted treasure for himself; and so he kept the child ignorant of the secret of the Rhinegold, and of his own high birth. As Siegfried grew to manhood, he had no knowledge of his true parentage, though he utterly refused to regard Mime as his father; for in spite of his protecting care, he hated the dwarf, feeling unconsciously that he had only preserved him for his own evil ends.

Mime knew this, and feared him accordingly; and as he now stood working at his forge this summer day, he trembled as he thought of the youth's wonderful strength, for every sword he had yet made for him, Siegfried had only contemptuously snapped in half.

Just as he finished the sword, Siegfried himself dashed boisterously into the cave, leading by a leash a great bear he had caught in the forest; for fear was unknown to the hero-son of Sieglinde, and savage beasts he but regarded as his play-fellows.

He was a noble-looking youth of dazzling beauty, mighty strength, and dauntless courage as befitted a descendant of the great god, Wotan; and his contempt for the puny Mime was quickly shown by the careless manner in which, in mere wanton mischief, he drove the fierce bear round the cave after the wretched gnome, who shrank back in abject fear.

At last, having laughingly driven the growling beast back to the forest, Siegfried returned, and demanded the new sword he had bidden Mime forge for him; and the dwarf timidly handed him the blade he had just finished, which would have been regarded as a mighty weapon by any ordinary mortal.

But Siegfried laughed derisively as he took up the sword to test its strength; and striking it but once upon the anvil, the steel immediately shivered to pieces.

To stem the torrent of wrath that now burst upon him, Mime whiningly implored Siegfried to remember the loving care he had ever shown for him since infancy; but the youth declared that he hated the sight of the gnome, and despised the pretended love he professed for him, since he knew him to be at heart false and evil.

He then demanded to be told who were his parents, and how he came to be left in the charge of a puny dwarf; and Mime, terrified at the authoritative flash in the eyes of Siegfried, and not daring to deceive him longer, told him in trembling tones all that he knew. He said that he had found in the forest one day a beautiful woman, named Sieglinde, who lay in tears and deep suffering; and carrying her to his cave, he had tended her with care. She gave birth to a child during the night, and dying almost immediately afterwards, had left the babe to the care of Mime, bidding him call her son by the name of Siegfried.

Filled with emotion as he listened to this sad story, Siegfried next demanded some proof of its truth; and very reluctantly Mime presently produced the pieces of a broken sword, which he said the dying woman had also left in his charge for her son, whose hero-father, she declared, had used it in his last fight. Overjoyed at the possession of this great treasure, which proved that his father had been a noble warrior, Siegfried now commanded Mime to forge the pieces afresh into a mighty sword once more, and enthusiastically declaring that with his father's weapon he would win himself renown, he rushed forth into the forest to tell his joy to the birds and beasts he loved so well.

But Mime was left in despair; for though he had many times in secret tried to weld the broken pieces of the magic sword, Needful, he had never yet succeeded, and knew it was beyond his skill to do so.

As the dwarf stood despondently at his anvil, a stranger, wrapped in a dark mantle, suddenly entered the cave and sat down to rest by the hearth; and though he called himself a Wanderer, Mime soon learnt to his terror, from the stranger's huge spear causing thunder to mutter as it struck the ground, that it was in reality the great god Wotan who had thus invaded his dwelling.

Although ill-received by the dwarf, the Wanderer calmly kept his seat; and in the course of conversation, he announced that Mime should fall a prey to the just wrath of one who had never known fear, and who alone possessed the power to forge the mighty sword, Needful.

With these ominous words the stranger vanished, and as Mime shrank back to his forge, trembling, Siegfried returned from the forest, and demanded his sword. The dwarf declared that he had not skill enough to forge the broken blade, and he added that it could only be restored by one who had never felt fear.

Upon Siegfried eagerly demanding what this fear was, Mime tried to describe the feeling to him; and the youth declared that he had no knowledge of such tremblings, but was curious to experience them. Then Mime craftily remarked that he knew of a terrible giant dragon, named Fafner, who would quickly teach him what fearing was; and Siegfried exclaimed impetuously that the dwarf should conduct him to this monster without delay.

He then took up the fragments of the magic sword, declaring that he alone, who knew not fear, would restore the weapon; and filing down the steel, he melted it in a crucible, and began to forge it afresh. Amidst the roaring of the bellows and the clang of the falling hammer, Mime sat lost in meditation, wondering how he could turn the youth's power to his own purposes; and at last an evil idea flashed across his brain.

He would let the hero slay the dragon and even secure the treasure; and then, when exhausted by his exertions, he would offer him a cooling draught containing a deadly poison, which should instantly cause his death, and the great prize would thus fall into the hands of Mime the Nibelung.

Siegfried had now fashioned his sword, and was singing gleefully as he hammered it on the anvil, calling it lovingly by name, and finishing it off with wondrous skill; and by the time the gnome had brewed his fatal draught, the magic blade, Needful, was completely restored.

With a loud shout of joy Siegfried seized the mighty weapon, and struck it with all his force upon the anvil to test its strength; and the blow was so great that the anvil split from top to bottom, and fell asunder with a terrific crash.

But Needful remained bright and unscratched; and swinging the wonderful sword exultingly over his head Siegfried rushed out of the cave, calling on the awed and shrinking Mime to lead him to the dragon's den. The dwarf, quickly recovering himself, and remembering the prize in store for him, took up the horn containing the fatal draught he had brewed; and joining Siegfried immediately, he led him unerringly through the forest to the wild spot where Fafner's cave was situated.

Here Alberic the Nibelung had been awaiting the dragon's death for many years; and having learnt this very day from Wotan, the Wanderer, of the near approach of Siegfried, he had slipped back into a rocky cleft to watch what happened.

Soon afterwards, Siegfried and Mime came forth from the forest; but the timid dwarf did not dare to remain long near the cave, and quickly departed to hide, after telling the youth that the dragon would soon appear. The young hero presently blew a long, loud blast upon his hunting-horn; and almost immediately afterwards, the terrible giant dragon, Fafner, came out from his cave, demanding who summoned him.

Siegfried stared at the great beast in amazement; but not a single spark of alarm was in his brave heart as he boldly announced that he had come to learn what fearing was. Fafner replied that he was overbold, since he should now serve him as food; but upon this, Siegfried, having no mind to provide a meal for the unwieldy creature, though fearless still, drew his sword, Needful, and smilingly sprang forward to meet his enemy.

With fire and poisonous fumes issuing from his nostrils, the dragon rushed upon him; but as it raised its huge body, Siegfried dashed boldly beneath the gaping jaws, and buried his sword in the monster's breast.

As the dragon rolled over, dead, Siegfried drew his sword triumphantly from its body; but in so doing, he accidentally tasted the creature's blood. Suddenly he discovered, to his joy, that he could now understand the language of the birds around him; and being especially attracted by the notes of a pretty wood-bird, he went nearer to listen to what it had to say. The wood-bird told him to enter the cave, and possess himself of the dragon's treasure, adding that if only he gained the Tarnhelm and magic Ring, he could make himself lord of the whole world.

Full of joy, Siegfried rushed into the cave; and at that moment Mime and Alberic came forth from opposite directions, scowling with surprise and anger as they recognised each other. They instantly began to quarrel as to which should have the treasure; but when Siegfried presently issued from the cave, with the Ring on his finger and the wishing-cap tucked into his belt, Alberic departed, content to let his curse take effect upon the spoiler.

As Siegfried passed under the trees, the wood-bird again spoke to him: and this time his feathered friend warned him that Mime was his enemy, and meant to poison him in order to obtain the treasures he had won. The youth, having always suspected the dwarf of evil intentions, was thus put upon his guard; and when Mime presently drew near with insinuating smile, and pleasantly offered him the horn of poison as a "cooling drink," he instantly plunged his sword into the traitor's heart.

As the crafty dwarf fell dead at his feet, the wood-bird spoke yet once again; and in sweet, thrilling tones, it now told him of a glorious bride whom he might win—the beautiful fallen Valkyrie, BrÜnhilde, who still slept upon her rocky fastness, surrounded by fire, and waiting for the one fearless hero of the world to brave the flames and possess her.

Filled with rapture at the thought that the joys of love might thus be his, Siegfried eagerly desired to know in which direction so fair a prize lay; and for answer, the pretty wood-bird spread its wings and fluttered along in front to show him the way. Through miles and miles of forest depths the feathered guide flew without resting; and then, when night had passed and the rosy dawn appeared, it suddenly vanished, and Siegfried, finding himself at the foot of a wild mountain, the rocky top of which was encircled by fire, knew that he had arrived at his goal.

But as he approached the mountain-side his path was suddenly blocked by a stranger. This was none other than Wotan, the Wanderer, who still roamed the world, conscious of his approaching doom, which should be brought nearer by this same radiant Volsung youth, and who, having vainly sought advice from the wise goddess Erda, now half-heartedly hoped to oppose the hero himself.

Seeing a stranger barring his path with extended spear, Siegfried drew his magic blade, Needful, and with a mighty stroke hewed the spear in two pieces, upon which a blinding flash of lightning rent the air, followed by a loud crash of thunder. Knowing now that it was useless to withstand this hero-youth who had thus destroyed his weapon of power, Wotan vanished in a cloud of darkness, and retreating in despair to Valhalla, he there awaited the Twilight of the Gods, which he knew was now quickly approaching, since he, the mightiest of them all, had been defeated.

But Siegfried, free to pursue his way once more, dashed joyfully up the mountain-side, and plunging fearlessly through the fierce encircling flames, he reached the rock beyond in safety. Here the Valkyrie, BrÜnhilde, still lay peacefully slumbering; and gently removing her protecting shield and helmet, Siegfried, entranced, stood gazing in breathless silence upon her dazzling loveliness. A passionate love surged up in his quickly-beating heart; and kneeling beside the fair maiden, he pressed a tender kiss upon her lips.

Instantly BrÜnhilde opened her beautiful eyes, and rising from her rocky couch greeted Siegfried with joy, telling him that she had loved him all through her charmed sleep, knowing that he alone should awaken her to life once more.

Then Siegfried, enraptured, clasped her in his arms, entreating her to accept his love; and though BrÜnhilde at first shrank back, offended at the touch of a mortal, she could not long fight against the answering passion awakened in her own breast. Remembering that her divinity was now lost for ever, she placed her hand in Siegfried's with joy; and as the hero held his beautiful bride in his arms, he felt that the dark night-time of his early years had at last dawned into a glorious day-time of light and joy.