Failure and Punishment

[Raynor]

I agree with lmp's interpretation. In the Shadow of the Past, Gandalf says that:

I can put it no plainer than by saying that Bilbo was _meant_to find the Ring, and _not_ by its maker. In which case you also were _meant_to have it.

So someone else was at work, meaning for Bilbo to find the ring and Frodo to have it; I think it is only natural to presume that this someone (who is not the ring maker, directly or indirectly I might add) also wanted Frodo to carry the ring to Mount Doom. If so many people were strangely summoned to the Council, how come no other stood up to carry the ring? It seems to me that all of them where searching inside, but none found the calling - save Frodo. Not even Boromir, who was probably the most susceptible to the ring's corruption, is not enticed, for better or for worse, to take it at that moment.