The great bulk of our peerage is comparatively modern, so far as the titles go; but it is not the less noble that it has been recruited to so large an extent from the ranks of honourable industry. In olden times, the wealth and commerce of London, conducted as it was by energetic and enterprising men, was a prolific source of peerages. Thus, the earldom of Cornwallis was founded by Thomas Cornwallis, the Cheapside merchant; that of Essex by William Capel, the draper; and that of Craven by William Craven, the merchant tailor. The modern Earl of Warwick is not descended from the “King-maker,” but from William Greville, the woolstapler; whilst the modern dukes of Northumberland find their head, not in the Percies, but in Hugh Smithson, a respectable London apothecary. The founders of the families of Dartmouth, Radnor, Ducie, and Pomfret, were respectively a skinner, a silk manufacturer, a merchant tailor, and a Calais merchant; whilst the founders of the peerages of Tankerville, Dormer, and Coventry, were mercers. The ancestors of Earl Romney, and Lord Dudley and Ward, were goldsmiths and jewellers; and Lord Dacres was a banker in the reign of Charles I., as Lord Overstone is in that of Queen Victoria. Edward Osborne, the founder of the Dukedom of Leeds, was apprentice to William Hewet, a rich clothworker on London Bridge, whose only daughter he courageously rescued from drowning, by leaping into the Thames after her, and eventually married. Among other peerages founded by trade are those of Fitzwilliam, Leigh, Petre, Cowper, Darnley, Hill, and Carrington. The founders of the houses of Foley and Normanby were remarkable men in many respects, and, as furnishing striking examples of energy of character, the story of their lives is worthy of preservation. The father of Richard Foley, the founder of the family, was a small yeoman living in the neighbourhood of Stourbridge in the time of Charles I. That place was then the centre of the iron manufacture of the midland districts, and Richard was brought up to work at one of the branches of the trade—that of nail-making. He was thus a daily observer of the great labour and loss of time caused by the clumsy process then adopted for dividing the rods of iron in the manufacture of nails. It appeared that the Stourbridge nailers were gradually losing their trade in consequence of the importation of nails from Sweden, by which they were undersold in the market. It became known that the Swedes were enabled to make their nails so much cheaper, by the use of splitting mills and machinery, which had completely superseded the laborious process of preparing the rods for nail-making then practised in England.