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Lake Town is a community of man by Long Lake and was once called, Esgaroth. It was once a truly rich and prosperous, wealthy and powerful. When Thrain ruled Under the Mountain, gold was abundant and the land was prosperous. But it was all destroyed by Smaug and took all of Thrain's treasures. So the legend says that if the king returns and defeats the dragon, Lake Town will prosper once again.

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Q: What are some of Lake-town's history and beliefs in The Hobbit?
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