(Sam is packing his bag on one of the balconies)

Sam: (to himself) Now what have I forgotten?

(Frodo appears behind him)

Frodo: Packed already?

Sam: No harm in being prepared.

Frodo: I thought you wanted to see the elves, Sam.

Sam: I do!

Frodo: More than anything.

Sam: I did! It's just...we did what Gandalf wanted didn't we? We got the Ring this far to Rivendell, and I thought, seeing as how you're on the mend, we'd be off soon. Off home.

Frodo: You're right Sam. We did what we set out to do. (shows the Ring on his palm) The Ring will be safe in Rivendell. I am ready to go home.

(Gandalf and Elrond watches Frodo and Sam from the balcony in Elrond's study)

Elrond: His strength returns.

Gandalf: That wound will never fully heal. He will carry it the rest of his life.

Elrond: And yet to have come so far, still bearing the Ring, the hobbit has shown extraordinary resilience to it's evil.

Gandalf: It is a burden he should never have had to bear. We can ask no more of Frodo.

Elrond: Gandalf, the enemy is moving. Sauron's forces are massing in the east-- his eye is fixed on Rivendell. And Saruman you tell me has betrayed us. Our list of allies grows thin.

Gandalf: His treachery runs deeper than you know. By foul craft Saruman has crossed orcs with goblinmen, he's breeding an army in the caverns of Isengard. An army that can move in sunlight and cover great distance at speed. Saruman is coming for the Ring.

Elrond: This evil cannot be concealed by the power of the Elves. We do not have the strength to fight both Mordor and Isengard!

(Gandalf walks slowly away, in deep thought. Stopping on another balcony, he gazes out over Rivendell)

Elrond: Gandalf, the Ring cannot stay here.

(Gandalf sees Boromir, Legolas and Gimli arrive)

Elrond: This peril belongs to all middle earth. They must decide now how to end it. The time of the Elves is over- my people are leaving these shores. Who will you look to when we've gone? The Dwarves? They hide in their mountains seeking riches. They care nothing for the troubles of others.

(turns to Elrond)

Gandalf: It is in Men that we must place our hope.

Elrond: Men? Men are weak. (they walk into Elrond's library as he speak) The race of men is failing. The blood of Numenor is all but spent. It's pride and dignity forgotten. It is because of men the Ring survives. I was there Gandalf. I was there three thousand years ago…

(Flashback to Isildur slicing the Ring off Sauron's hand)

Elrond: Isildur took the Ring. I was there the day the strength of men failed.

(Flashback. Isildur lies on the ground after destroying Sauron, and looks at the Ring, when Elrond comes over.)

Elrond: Isildur hurry. Follow me...

(they head for the heart of Mount Doom)

Elrond: (v.o.) I led Isildur into the heart of Mount Doom, where the Ring was forged, the one place it could be destroyed.

(At Sammath Naur, Elrond stands near the edge)

Elrond: Cast it into the fire!

(Isildur looks at the Ring in his hand. The Ring whispers to him)

Elrond: Destroy it!

Isildur: (whispers) No…

(Isildur turns and walks away)

Elrond: Isildur!!!

Elrond: (v.o.) It should've ended that day, but evil was allowed to endure.

(Scene returns to Rivendell)

Elrond: Isildur kept the Ring. The line of kings is broken. There is no strength left in the world of men. They're scattered, divided, leaderless.

Gandalf: There is one who could unite them, one who could reclaim the throne of Gondor.