SIR RICHARD CLOUGH.
Sir Richard Clough was a man of distinguished character, who raised himself by his merit, from a poor boy at Denbigh to be one of the greatest merchants of his time. He was first a chorister at Chester, then had the good fortune to become apprentice to the famous Sir Thomas Gresham, and afterwards his partner, with whom he may be considered as joint founder of the Royal Exchange, having contributed several thousand pounds towards that noble design. His residence was chiefly at Antwerp, where after his death his body was interred; his heart at Whitchurch, in the vicinity of Denbigh. He is said to have made a pilgrimage to Jerusalem, and to have been a knight of the holy sepulchre; and he accordingly assumed the five crosses, the badge of that order, for his arms. His wealth was so great, that his name became proverbial, and the Welsh have a saying, on any person’s attaining great riches, that he is become a Clough. Sir Richard left two daughters, but it is probable that they enjoyed but an inconsiderable part of his wealth, which is said to have gone to Sir Thomas Gresham, according to an agreement in case of survivorship. Sir Richard died first, but the time is unknown. Sir Thomas survived till the year 1579.
The original hint of the Royal Exchange was given to Sir Thomas Gresham by Sir Richard Clough, who in the year 1561, had been advanced by the former, to be his correspondent and agent in the then emporium of the world, Antwerp. Clough wrote to his master, to blame the citizens of London for neglecting so necessary a thing; bluntly saying that “they studied nothing else but their own private profit; that they were content to walk about in the rain, more like pedlars than merchants, and that there was no kind of people but had their place to transact business in, in other countries.” Thus stimulated, Sir Thomas, in 1566, laid the foundation, and the next year completed what was then called the Bourse, which three years after on being visited by queen Elizabeth, was dignified by her with the title of Royal Exchange.
An original picture of Sir Richard Clough is preserved at Llanywern, the seat of Sir Thomas Salusbury, Bart. It is a half length extremely well painted on board, his hair is very short, and of a dark brown. He is dressed in a short close jacket, black, striped with white, and great white breeches. In his right hand a glove; his left on his sword; on his right side is a dagger. The arms of the holy sepulchre, which he had assumed, are on one side of the picture. It was probably painted at Antwerp, which at this period abounded with artists of the first merit.