Trader Linmar Ponyets is ordered by the Foundation to try to negotiate with the Elders, and travels to the central Askonian planet. Ponyets meets with the Elders' Grand Master and deduces that, though he is determined to have Gorov executed, he may be willing to exchange the captive for a suitable bribe, which Ponyets realizes would be a sum of gold. Ponyets clumsily fashions a transmuter that will convert iron into gold. The Grand Master informs Ponyets that others who have attempted this have failed and have been punished with execution for both their attempt and for their failure; Ponyets succeeds and convinces the Grand Master that the gold is appropriate for Askonian religious decoration, which pleases the Elders.