Elves

The longest living of all the mortal races, elves were the first to unlock the secrets of magic, and then learned how to bind those magics into otherwise mundane objects to produce truly wondrous effects. The gnomes may make fascinating steam and clockworks, the dwarfs may shape strong and sturdy structures, and the humans may have the courage (or lack of good common sense) to explore each new frontier, but it is the elves who command the vestigial powers of creation left over from when the very gods shaped this world.

Masters of augury as well, the elves have learned to see portends in the celestial movements, as granted by their deities. These portends have granted forewarning against drought, war, and other disasters. All of the races have benefited from this, provided they can pay the elvish augurs for their services on their behalf.

Most recently, the elves have begun working with the gnomes on some new projects, striving to combine gnomish tinkering with elvish enchanting. No results have been made public as of yet, but the humans have expressed an interest in their efforts.