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. ROYAL CLEMENCY. Lewis the thirteenth of France being desirous to sit as judge at the trial of the Duke de la Vallette, assembled, in his cabinet, some members of the Parliament, together with some counsellors of state, to consult on the propriety of such a step. Upon their being compelled by the king to give their opinions concerning the decree for his arrest, the president, De Believre, said, “That he found it very strange that a prince should pass sentence upon one of his subjects; that kings had reserved to themselves the power of pardoning, and left that of condemning to their officers; that his majesty wanted to see before him at the bar, a person, who by his decision was to be hurried away in an hour’s time into another world. That this is what a prince’s countenance, from whence favours flow, should never bear; that his presence alone removed ecclesiastical censures; and that subjects ought not to go away dissatisfied from their prince.” When sentence was passed, the same president said, “This is an unprecedented judgment, and contrary to the example of past ages, to see a king of France, in the quality of a judge, condemning a gentleman to death.”—It may be proper to add, that the sentence was afterwards revoked.