In his talk to Peregrin as they rode on Shadowfax from Dol Baran (The Two Towers), Gandalf's immediate object was to give the Hobbit some idea of the history of the palantíri, so that he might begin to realize the ancientry, dignity, and power of things that he had presumed to meddle with. . . . Gandalf's mind was at the same time earnestly busy
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