On the day of his wedding, everyone, including Peter, was happy. He could hardly wait to show Liese the house he had built for her. At the wedding feast he glanced over at his mother. He noticed for the first time how gray her hair had grown recently. She seemed to be aging so quickly. Peter felt a pang of guilt that he had pulled the thread so often. Henceforward he would be much more sparing with it and only use it when it was strictly necessary.

A few months later Liese announced that she was going to have a child. Peter was overjoyed and could hardly wait. When the child was born, he felt that he could never want for anything again. But whenever the child was ill or cried through the sleepless night, he gave the thread a little tug, just so that the baby might be well and happy again.

Times were hard. Business was bad and a government had come to power that squeezed the people dry with taxes and would tolerate no opposition. Anyone who became known as a troublemaker was thrown into prison without trial and rumor was enough to condemn a man. Peter had always been known as one who spoke his mind, and very soon he was arrested and cast into jail. Luckily he had his magic ball with him and he tugged very hard at the thread. The prison walls dissolved before him and his enemies were scattered in the huge explosion that burst forth like thunder. It was the war that had been threatening, but it was over as quickly as a summer storm, leaving behind it an exhausted peace. Peter found himself back home with his family. But now he was a middle-aged man.

For a time things went well and Peter lived in relative contentment. One day he looked at his magic ball and saw to his surprise that the thread had turned from gold to silver. He looked in the mirror. His hair was starting to turn gray and his face was lined where before there had not been a wrinkle to be seen. He suddenly felt afraid and determined to use the thread even more carefully than before. Liese bore him more children and he seemed happy as the head of his growing household. His stately manner often made people think of him as some sort of benevolent ruler. He had an air of authority as if he held the fate of others in his hands. He kept his magic ball in a well-hidden place, safe from the curious eyes of his children, knowing that if anyone were to discover it, it would be fatal.

As the number of his children grew, so his house became more overcrowded. He would have to extend it, but for that he needed money. He had other worries too. His mother was looking older and more tired every day. It was of no use to pull the magic thread because that would only hasten her approaching death. All too soon she died, and as Peter stood at her graveside, he wondered how it was that life passed so quickly, even without pulling the magic thread.

One night as he lay in bed, kept awake by his worries, he thought how much easier life would be if all his children were grown up and launched upon their careers in life. He gave the thread a mighty tug, and the following day he awoke to find that his children had all left home for jobs in different parts of the country, and that he and his wife were alone. His hair was almost white now and often his back and limbs ached as he climbed the ladder or lifted a heavy beam into place. Liese too was getting old and she was often ill. He couldn't bear to see her suffer, so that more and more he resorted to pulling at the magic thread. But as soon as one trouble was solved, another seemed to grow in its place. Perhaps life would be easier if he retired, Peter thought. Then he would no longer have to clamber about on drafty, half-completed buildings and he could look after Liese when she was ill. The trouble was that he didn't have enough money to live on. He picked up his magic ball and looked at it. To his dismay he saw that the thread was no longer silver but gray and lusterless. He decided to go for a walk in the forest to think things over.

It was a long time since he had been in that part of the forest. The small saplings had all grown into tall fir trees, and it was hard to find the path he had once known. Eventually he came to a bench in a clearing. He sat down to rest and fell into a light doze. He was woken by someone calling his name, "Peter! Peter!"

He looked up and saw the old woman he had met so many years ago when she had given him the magic silver ball with its golden thread. She looked just as she had on that day, not a day older. She smiled at him.

"So, Peter, have you had a good life?" she asked.

"I'm not sure," Peter said. "Your magic ball is a wonderful thing. I have never had to suffer or wait for anything in my life. And yet it has all passed so quickly. I feel that I have had no time to take in what has happened to me, neither the good things nor the bad. Now there is so little time left. I dare not pull the thread again for it will only bring me to my death. I do not think your gift has brought me luck."

"How ungrateful you are!" the old woman said. "In what way would you have wished things to be different?"

"Perhaps if you had given me a different ball, one where I could have pushed the thread back in as well as pulling it out. Then I could have relived the things that went badly."

The old woman laughed. "You ask a great deal! Do you think that God allows us to live our lives twice over? But I can grant you one final wish, you foolish, demanding man."

"What is that?" Peter asked.

"Choose," the old woman said. Peter thought hard.

At length he said, "I should like to live my life again as if for the first time, but without your magic ball. Then I will experience the bad things as well as the good without cutting them short, and at least my life will not pass as swiftly and meaninglessly as a daydream."

"So be it," said the old woman. "Give me back my ball."

She stretched out her hand and Peter placed the silver ball in it. Then he sat back and closed his eyes with exhaustion.

When he awoke he was in his own bed. His youthful mother was bending over him, shaking him gently.

"Wake up, Peter. You will be late for school. You were sleeping like the dead!"

He looked up at her in surprise and relief.

"I've had a terrible dream, Mother. I dreamed that I was old and sick and that my life had passed like the blinking of an eye with nothing to show for it. Not even any memories."

His mother laughed and shook her head.

"That will never happen," she said. "Memories are the one thing we all have, even when we are old. Now hurry and get dressed. Liese is waiting for you and you will be late for school."

As Peter walked to school with Liese, he noticed what a bright summer morning it was, the kind of morning when it felt good to be alive. Soon he would see his friends and classmates, and even the prospect of lessons didn't seem so bad. In fact he could hardly wait.