Did you ever actually read the book? You do know that 17 years passed between Bilbo's 111th birthday and Frodo leaving the Shire, right? You know that Gandalf (and other wizards) are Maia and therefore immortal? They were around when Sauron made his ring. They knew of its existence. Try finding a copy of LOTR and reading Vol 1, Book 2, Chapter 2: The Council of Elrond. Here are some relevant passages.
"'There is indeed a wide waste of time between the River and the Mountain, between the loss and the finding. But the gap in the knowledge of the Wise has been filled at last. Yet too slowly. For the Enemy has been close behind, closer even than I feared. And well is it that not until this year, this very summer, as it seems, did he learn the full truth.'"
"'Then for the last time the Council met; for now we learned that he was seeking ever more eagerly for the One. We feared then that he had some news of it that we knew nothing of. But Saruman said nay, and repeated what he had said to us before: that the One would never again be found in Middle-earth.'"
"'There I was at fault,' he said. 'I was lulled by the words of Saruman the Wise; but I should have sought for the truth sooner, and our peril would now be less.'"
"'From the first my heart misgave me, against all reason that I knew,' said Gandalf, 'and I desired to know how this thing came to Gollum, and how long he had possessed it. So I set a watch for him, guessing that he would ere long come forth from his darkness to seek for his treasure. He came, but he escaped and was not found. And then alas! I let the matter rest, watching and waiting only, as we have too often done.'" Here I want to point out that he was aware of A ring in Bilbo's possession and that it had previously been Gollum's. He just didn't know all its history at this point.
"'Time passed with many cares, until my doubts were awakened again to sudden fear. Whence came the hobbit's ring? What, if my fear were true, should be done with it? Those things I must decide. But I spoke yet of my dread to none, knowing the peril of an untimely whisper, if it went astray. In all the long wars with the Dark Tower treason has ever been our greatest foe.
'That was seventeen years ago. Soon I became aware that spies of many sorts, even beasts and birds, were gathered round the Shire, and my fear grew. I called for the help of the Dunedain, and their watch was doubled; and I opened my heart to Aragorn, the heir of Isildur.'
'And I,' said Aragorn, 'counselled that we should hunt for Gollum, too late though it may seem. And since it seemed fit that Isildur's heir should labour to repair Isildur's fault, I went with Gandalf on the long and hopeless search.'" Seventeen years ago = time of Bilbo's birthday party.
"Then Gandalf told how they had explored the whole length of Wilderland, down even to the Mountains of Shadow and the fences of Mordor. 'There we had rumour of him, and we guess that he dwelt there long in the dark hills; but we never found him, and at last I despaired. And then in my despair I thought again of a test that might make the finding of Gollum unneeded. The ring itself might tell if it were the One. The memory of words at the Council came back to me: words of Saruman, half-heeded at the time. I heard them now clearly in my heart.
'"The Nine, the Seven, and the Three," he said, "had each their proper gem. Not so the One. It was round and unadorned, as it were one of the lesser rings; but its maker set marks upon it that the skilled, maybe, could still see and read."
'What those marks were he had not said. Who now would know? The maker. And Saruman? But great though his lore may be, it must have a source. What hand save Sauron's ever held this thing, ere it was lost? The hand of Isildur alone.
'With that thought, I forsook the chase, and passed swiftly to Gondor. In former days the members of my order had been well received there, but Saruman most of all. Often he had been for long the guest of the Lords of the City. Less welcome did the Lord Denethor show me then than of old, and grudgingly he permitted me to search among his hoarded scrolls and books.'"
This bit you will be familiar with, since it was put into the official movie.
"'When I read these words, my quest was ended. For the traced writing was indeed as Isildur guessed, in the tongue of Mordor and the servants of the Tower. And what was said therin was already known. For in the day the Sauron first put on the One, Celebrimbor, maker of the Three, was aware of him, and from afar he heard him speak these words, and so his evil purposes were revealed.
'At once I took my leave of Denethor, but even as I went northwards, messages came to me out of Lorien that Aragorn had passed that way, and that he had found the creature called Gollum. Therefore I went first to meet him and hear his tale. Into what deadly perils he had gone alone I dared not guess.'
'There is little need to tell of them,' said Aragorn. 'If a man must needs walk in sight of the Black Gate, or tread the deadly flowers of Morgul Vale, then perils he will have. I, too, despaired at last, and I began my homeward journey. And then, by fortune, I came suddenly on what I sought: the marks of soft feet beside a muddy pool. But now the trail was fresh and swift, and it led not to Mordor but away. Along the skirts of the Dead Marshes I followed it, and then I had him. Lurking by a stagnant mere, peering in the water as the dark eve fell, I caught him, Gollum. He was covered with green slime. He will never love me, I fear; for he bit me, and I was not gentle. Nothing more did I ever get from his mouth than the marks of his teeth. I deemed it the worst part of all my journey, the road back, watching him day and night, making him walk before me with a halter on his neck, gagged, until he was tamed by lack of drink and food, driving him ever towards Mirkwood. I brought him there at last and gave him to the Elves, for we had agreed that this should be done; and I was glad to be rid of his company, for he stank. For my part I hope never to look upon him again; but Gandalf came and endured long speech with him.'"
This speech with Gollum, combined with the writing on the ring, proves Gandalf's claim that Frodo's ring is the One Ring. Aragorn then says that Gollum is still in prison and is glad of it, causing Legolas, son of King Thranduil of Mirkwood, to feel rather guilty. The reason Legolas is at the Council in the first place was to confess that they had lost Gollum.
You don't even have to read the Appendices (which are very interesting, by the way) to realise that THFG really is completely canon. I love PJ's LOTR, but Tolkien's book still beats it hands down.
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