According to legend, hanging a stocking on Christmas Eve evolved with St. Nicholas in the 3rd century in what is now part of Turkey.  St. Nicholas was a kindly bishop who frequently and anonymously helped those in need and in one instance it was a poor man who did not have any money for a dowry.  Subsequently the poor man's daughters could not marry.  St. Nick came to the rescue by leaving gold in the daughters' stockings that were hung by the fireplace to dry and thus the tradition began.