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Sir Richard Clough – ‘The Most Complete Man’ |
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The Royal Exchange
In December 1561, Clough wrote to Gresham suggesting that an exchange for merchants should be built in London, like the ‘Bourse’ in Antwerp, as the foreign and English merchants were reduced to conducting their business in a narrow street, exposed to the weather all year round.
Clough became a zealous advocate for the building, donating considerable sums towards its construction. In 1565 He appointed the Flemish architect, Hendrik van Passe, to design the exchange, and the most of the materials and workmanship were imported from Antwerp under his supervision.
Whilst the suggestion for an exchange was Clough’s, credit for the founding of the Royal Exchange Building falls to Gresham, who profited greatly from the rent of shops above the exchange when it opened in 1571, a year after Richard died.
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