Reading the Prologue Is Important

It is plain indeed that in spite of later estrangement Hobbits are relatives of ours: far nearer to us than Elves, or even than Dwarves. Of old they spoke the languages of Men, after their own fashion, and liked and disliked much the same things as Men did. But what exactly our relationship is can no longer be discovered. The beginning of Hobbits lies far back in the Elder Days that are now lost and forgotten. Only the Elves still preserve any records of that vanished time, and their traditions are concerned almost entirely with their own history, in which Men appear seldom and Hobbits are not mentioned at all. Yet it is clear that Hobbits had, in fact, lived quietly in Middle-earth for many long years before other folk became even aware of them. And the world being after all full of strange creatures beyond count, these little people seemed off very little importance. But in the days of Bilbo, and of Frodo his heir, they suddenly became, by no wish of their own, both important and renowned, and troubled the counsels of the Wise and the Great.

--from the Prologue, The Fellowship of The Ring