The Fellowship of the Ring by J.R.R Tolkien (Harper Collins 1991) pp. 233,234
Surely every action that Elrond takes and every word that he speaks tells that he knows that there can be but one outcome to the council that he has called to take place on the day after the feast and Frodo’s recovery from his wound. The feast itself, held in Frodo’s honour, at which he is seated at the table of highest honour; the seat at Elrond’s very side at the Council and the words with which Elrond announces him to the gathering all point to the central role that Frodo is going to have to play in the story.
“Here, my friends, is the hobbit, Frodo son of Drogo. Few have ever come hither through greater peril or an errand more urgent.”

Elrond must not impose his will upon the Council. The deliberations must be, as that word implies, deliberate. Every part of the story that has led each member to be there that morning must be told and must be heard. And every teller of the story and every one who hears and who deliberates must be granted honour. Elrond is the one who will chair the debate because he is Lord of Rivendell, of Imladris, because he has played so central a part in the long history that on this day will reach its climax and because of his lineage; but he knows that unless every single person gathered there is prepared to give their assent to the decision that will conclude the discussion all will be in vain.
For gathered together on this day are representatives of all the free peoples of Middle-earth. elves of every kind, dwarves, the descendants of Númenor, and most surprisingly of all, hobbits. Some of them are well aware of their dignity and their right to be parties to the decisions that will be made. Glorfindel, mighty hero of the conflicts of every age, one who lives at once, and has great power, in the worlds of both the Seen and the Unseen; and Boromir, Son and Heir to the Steward of Gondor, ruler of the greatest of all the kingdoms of humankind, these know their dignity. So too do Galdor of the Grey Havens and Erestor of Rivendell, high in the counsels of their lords. Others who have gathered there represent peoples whose essential dignity is perhaps more contested. Gloín from the dwarf kingdom of Erebor, the Lonely Mountain, and his son, Gimli, are of an ancient people who have played their part in the history of Middle-earth but who have always kept themselves apart, making alliances from necessity rather than desire. And Legolas, son of Thranduil of the woodland realm in Mirkwood, is described here as strange, surely here drawing upon the older meaning of that word as one who is a stranger whether by accident or by choice. Like the dwarves of the Lonely Mountain Thranduil and his people have kept apart from the great alliances except, as in the Battle of the Five Armies, by necessity.

And last, and most certainly until that day, least among the free peoples of Middle-earth, are the hobbits. The dwarves and the elves of the woodland realm, both peoples at the fringe of the great story, know Bilbo because of his part in the events that led to the fall of Smaug and the great victory at the Battle of the Five Armies, but to the descendants of Númenor and to the High Elves, hobbits have not been of any importance. Even Aragorn and Glorfindel might be forgiven for regarding them as being completely out of their depth in events too great for them to comprehend or to be a part of. After all, their main knowledge of hobbits has come from the need to rescue them from danger. Only Gandalf has really made it his business to get to know hobbits and this interest has largely been regarded as an eccentric curiosity on his part.
Is it through Gandalf that Elrond has changed his mind about hobbits? Surely it is that, that and his acquaintance with Bilbo and his wise perception of the events that have led to this moment, and so it is that with emphasis, addressing each one present, he introduces Frodo as the hobbit, as one who has come to Rivendell heroically, through great peril and on the most urgent of errands. Thus he addresses Gloín, Legolas and Boromir, all travellers from afar who have come upon errands themselves. Frodo is at the centre of the Council and Frodo will be its outcome.

Elrond is here certainly the ideal leader of any council. He listens to all–knowing that all opinions and stories must be shared if a right decision is to be made. He does not give his own opinion before the others have told everything there is to tell. An excellent example of a good listener.
And perhaps, most importantly of all, Frodo has to offer himself for the task. He cannot be forced to take the Ring; he cannot even be asked to take it. Everyone there knows that he is offering to lay down his life, even that it is likely that the task will cost him his life. And Elrond has no choice but to wait for this moment. He even has to be prepared for Frodo to refuse to take the Ring even though that will mean the end for everyone.