Just as stories must ascend to their climax, they cannot just end there, but must descend to their endings. Smaug's death is certainly the central event of The Hobbit, but perhaps not the most meaningful, and Our Author must begin immediately to build the minor crescendoes. The devastation of Esgaroth, with one-quarter of the people of Lake-town dead, is the immediate theme, as is the political situation: with confidence in the corrupt Master low and Bard the Bowman presumed to be dead:

"And in the very midst of their talk a tall figure stepped from the shadows. He was drenched with water, his black hair hung wet over his face and shoulders, and a fierce light was in his eyes."

"Bard is not lost!" he cried. "He dived from Esgaroth, when the enemy was slain. I am Bard, of the line of Girion; I am the slayer of the dragon!"

"King Bard! King Bard!" they shouted; but the Master ground his chattering teeth.

(Doesn't this remind you of a similar scene in The Lord of the Rings?)

Although Bard declined the kingship (since his ancestors were lords of Dale and not Kings of Esgaroth), he still took charge of relief and recovery and sent messengers to the King of the Woodland Elves for aid. But the messengers found the elves already on the way:

"The Elvenking had received news from his own messengers and from the birds that loved his folk, and already knew much of what had happened. Very great indeed was the commotion among all things with wings that dwelt on the borders of the Desolation of the Dragon. The air was filled with circling flocks, and their swift-flying messengers flew here and there across the sky. Above the borders of the Forest there was whistling, crying and piping. Far over Mirkwood tidings spread: "Smaug is dead!" Leaves rustled and startled ears were lifted. Even before the Elvenking rode forth the news had passed west right to the pinewoods of the Misty Mountains; Beorn had heard it in his wooden house, and the goblins were at council in their caves."

War was building.