Wotan and Loki start for the underworld. The scene gradually changes and they soon are discovered descending into the domain of the Nibelungs, ruled by Alberich.
Mimi, Alberich's slave-brother, has fashioned for him the ring and it has not disappointed in its endowment. With all vestiges of love now banished from his heart, he thinks only of oppressing his people and piling up gold for himself. Mimi has been forced also to make from the Rhinegold a Tarnhelm or helmet, which is to give either invisibility or any form desired to the wearer. This too has proven a success and, to thank the forger for his work, Alberich becomes invisible and lashes him with a whip. The gods find Mimi writhing in agony, and craftily draw from him the story of the ring. As they speak, the dwarf-ruler appears, driving before him hosts of serfs, who bear loads of gold plate and jewelry. The magic of the ring gives him insight into the real object of the visit of Wotan and Loki but he feels so secure in his new power that he defies even the gods. Finally, he is beguiled by Loki into displaying the qualities of the Tarnhelm and changes himself first into a huge serpent and then into a toad. While under the second trans formation, Wotan places his foot upon him, Loki seizes the helmet and together they convey him, restored to human form, to the upper air. Having dragged their prisoner to the mountain top, Wotan commands him to summon his dwarfs and have them fetch the treasure from Nibelheim. Alberich reluctantly obeys but is furious to find himself compelled to add the Tarnhelm to the treasure that his serfs pile up. He hopes to keep the ring, however, but even this is demanded and forced to yield it up, he in his rage hurls with it a dreadful accom panying curse, declaring that destruction ever shall come to the one who wears it.
Alberich is released and Fricka, Donner and Froh appear, followed closely by Fasolt and Fafner and the weeping Freya. The giants declare that only gold enough entirely to screen the goddess can buy her back. When all the horde is piled about her and even the magic helmet has been added they discover still a chink through which can be caught a glimpse of Freya's golden hair and Wotan is forced to sacrifice the ring. This he refuses to do until Erda, the earth goddess and the mother of the fates, rises from the ground to tell him that to keep it means ruin.
Three daughters, norns of fate, Were born to me, ere the world began; By these was I called to counsel thee; That direst danger, day of gloom, Dawns for all the gods; Hence I warn thee, beware the ring! The released Freya embraces her kin, who now are dowered once more with the rose of youth. The inevit
able evil of the ring begins to exert its power, however. The giants quarrel over the division of the gold and Fafner slays his brother and departs, carrying the whole treasure. As Wotan broods over the baleful curse which has entered the world, heavy haze and mist settle over the river and castle. Thor, the god of thunder, compels the storm elements to obey him and, when lightning and thunder-peals have cleared the air, a shimmering rain bow is seen bridging the space between the valley and \Valhalla. Wotan giving his hand to Fricka, invites the gods and goddesses to follow him to their new home. As they advance, a celestial procession across the shining bridge, the lament of the Rhine daughters over the stolen gold rises to their ears from far below. Wotan ques tions Loki as to what means this sound and, on being told, commands that it cease. Loki mockingly calls to the Rhine maidens, bidding them forget the loss of their shining gold and sun themselves in the splendor of the gods. The lament continues as the gods enter Walhalla.
" The Rhinegold " is the prologue to the great Nibe lungen trilogy and is the key to all which follows. Many of the characters which figure in the later action are intro duced. In it, the sin of the king of the gods, i, e., the breaking of the contract with the giants and his coveting and securing by force the ring, which is the symbol of earthly power, is committed. The consequences of this sin make up the action of the ensuing dramas. Wotan, not Siegfried, is the true hero of the trilogy and the real plot is concerned with his efforts to escape the retribu tion which inevitably must follow wrong-doing. It must be remembered that the gods of Teutonic mythology are not immortal. Streatfield says, " Behind Walhalla towers the gigantic figure of Fate, whose reign is eternal. The gods rule for a limited time, subject to its decrees. This ever-present idea of inexorable doom is the guiding idea of Wagner's great tragedy. Against the inevitable the gods plot and scheme in vain." As yet no human interest has been engendered, how ever, for the world to which we are introduced is one of mystery, dealing with naught save gods, giants, dwarfs and nixies.