Therefore at last the Council was again summoned and the lore of the Rings was much debated; but Mit
Therefore at last the Council was again summoned and the lore of the Rings was much debated; but Mithrandir spoke to the Council, saying: ‘It is not needed that the Ring should be found, for while it abides on earth and is not unmade, still the power that it holds will live, and Sauron will grow and have hope. The might of the Elves and the Elf-friends is less now than of old. ~ The Silmarillion, Of the Rings of Power -- source link
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