I am very impressed by Bilbo's actions in this chapter. He is definitely braver! If Thorin finds out about the Arkenstone, it could end badly for Bilbo. I hope providence is on Bilbo's side! We all can guess what will happen if Thorin gets word of the Arkenstone's use in the negotiations.
In Chapter 17, Bard arrives with two messengers in hopes of negotiating peace with the dwarves. He brought along a large wooden box, which contains the Arkenstone. The Arkenstone is revealed, Bilbo confesses to stealing it and giving it over to the men and the elves. Thorin is enraged as a result. One of the messengers reveals himself as Gandalf, and warns that the goblin and the Warg armies are heading in their general direction. Bilbo reveals why he did what he did, and then the dwarf army arrives.
The Battle of Five Armies ensues, with the humans fighting on the same side as the elves and dwarves. Everything goes well, but then the goblins and Wargs try to storm the mountain. Bilbo is wearing his ring, and is invisible. Thorin joins the fight, and at the end of the chapter, the Eagles swoop in. However, a falling rock hits Bilbo in the head, and he is out cold.
Chapter 17 thrilled me. I was worried that Bilbo would be harmed by Thorin early on. When Gandalf told them about the goblins and the Wargs heading for the mountain, I feared for our heroes- both the goblins and the Wargs have personal vendettas against them. I was relieved when the Eagles came to help the men, elves, and dwarves. Trust me- this chapter was what I wanted!
Chapter 18 starts off with the aftermath of the battle. Bilbo comes to, takes off his ring, and is found alive and well. Thorin is mortally wounded. Bilbo and Thorin become friends again, and then Thorin dies. Of the original expedition, ten remain alive- Fili and Kili are also dead. Thorin is given a grand burial, and Gandalf tells Bilbo that the Eagles had tracked the goblins and Wargs beforehand. Bilbo also learns that Beorn, in the form of a very angry bear, joined in the fight against the goblins, and the enemies who are not dead are in hiding.
I was in tears by the end of this chapter. Three good
Chapter 19 reveals that Thorin's brother Dain has decided to be the new King Under the Mountain, and that the dwarves will stay there. Bilbo is given plenty of treasure, and then he, Gandalf, and Beorn start out for home. Beorn arrives at his abode, and then Gandalf and Bilbo head back to the Shire. The two pass through familiar territory, have another visit at the Last Hospitiable House, and then find the treasure that the trolls had gained. They arrive back in the Shire, where Bilbo finds that everything is being sold at auction. Bilbo becomes a rich author, and at the end of the book, he is visited by Gandalf and Balin.
Chapter 19 comes full circle. It was a mostly happy ending, and Bilbo finally got back home! Of course, I was suprised all over again when Bilbo's house and belongings were being auctioned off. Bilbo has also reached the two last stages of the Hero's Journey: "Resurrection" and "Return with Elixir". Bilbo never died, but everyone thought he was dead, so he is, in an almost literal sense, resurrected. The treasure is the "Elixir", which Bilbo uses to get his belongings back after he returns.
Re-reading The Hobbit was a journey in and of itself. I think that aptly describes the experience.