The other Woodcutter goes into the forest and finds the pond. He pretends to be chopping wood and throws his ax in the pond on purpose.
Woodcutter2: Now, I’ll throw my ax in the pond. Whee!
Spirit appears.
Spirit: Did you drop an ax in my pond?
Woodcutter2: Yes, I did! Please help me! Find my ax for me!
Spirit: Just wait here. I will find your ax.
The Spirit disappears as before and comes out with three axes.
Spirit: Is this golden ax yours?
Woodcutter2: Oh, yes! That is mine! Thank you for finding it! Please give it to me now!
Spirit: Are you sure? Look again.
Woodcutter2: Of course, I am sure. That is my ax.
The Spirit shows him another ax.
Spirit: Then how about this ax? Is this sliver ax yours, too?
Woodcutter2: Oh my goodness! That is also my ax. Give it to me!
Spirit: This silver ax is yours? Then，how about this iron ax?
The Spirit shows the other Woodcutter his real ax.
Woodcutter2: No, no! That is not my ax. You can have that ax, old man. My axes are only made of gold and silver. Give me my axes!
Suddenly, the whole forest turns dark, and thunder and lightning strikes.
Spirit: Go back to your village! You are a greedy man and also a terrible liar! Go home now before you are punished!
Woodcutter2: Oh, no! Please forgive me! At least give back my iron ax!
The Spirit disappears into the pond without saying another word.
Woodcutter2: I won’t be greedy again! Please come back! Give me back my iron ax!
The other Woodcutter kept pleading, but the Spirit didn't come back. It was too late.
Woodcutter2: Now I have nothing. What shall I do? Boo-hoo……
MORAL
Honest and diligent men are rewarded and greedy men are punished.