In response to the other closed thread, who would have got the ring if Frodo hadn't been around...surely it would have been passed to whoever was Bilbo's heir, and thus the answer lies in the Baggins family tree.
Bilbo would never have passed it to Lotho or any other Sackville-Baggins, so he would have found another cousin, presumably. Merry would thus be in with a strong chance.
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Out went the candle, and we were left darkling
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