Bard is a character from J.R.R. Tolkien's childrens' novel, The Hobbit. He is an inhabitant of the Mannish settlement of Dale, an area inhabited by hardy yet unsuccessful Men who dare to live virtually at the threshold of the fearsome dragon Smaug. Bard is in reality descended from Girion, former Lord of Dale, but is only a warrior, not the leader of Dale. He is, as the node-title suggests, the slayer of Smaug, an evil dragon who lives in the Lonely Mountain.
In Chapter 14 of the Hobbit, Bard is informed by a thrush that Smaug's jewelled coating has a gap -- a place where a well placed arrow can kill him. And as luck would have it,Smaug, in a fit of rage at having a peice of his treasure stolen by one hobbit, Bilbo Baggins, files over Dale and falls victim to Bard's arrow, though not before a large portion of Dale is burnt.
Later, Bard is a key figure in getting Thorin Oakenshield, lately heir to his ancestral fortunes which had been in Smaug's hands all this time, to relinquish the part of the treasure that rightfully belongs to men. After a battle or two and some double-dealling by Baggins, Thorin gives Bard his share of the treasure from his (Thorin's) deathbed. Bard goes home to be the new leader of Dale and to live happily ever after.

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