[The One Ring] was a mythical way of representing the truth that potency (or perhaps potentiality) if it is to be exercised, and produce results, has to be externalised and so as it were passes, to a greater or lesser degree, out of one’s direct control.
J.R.R. Tolkien, Letter #211, 1958 See The Letters of J.R.R. Tolkien.
How subtle and intriguing a symbolism for the ring. How precise and intricate a sentence.