Rug given to us for some work

I would love to know about the rug (?) tapestry (?), I don't even know what to call it. A friend gave this to my husband about 20 years ago for some work he did and because he thought we would like it because we have a lot of antiques.

I have never hung it because I simply didn't know how. It has some damage in a few places where it was hung in the past.

It is 45" high x 70" wide. It's pretty large and quite heavy.

I would love to know more about the scene-seems to be some party goers watching a gal dance.

What era is this from? How old is it? How should I go about hanging it without damaging it further? Any information would be helpful. I have no idea how to research it because I know nothing at all about it!