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The Woolsack:

The woolsack is a large red cushion on which the Lord Chancellor sits in the House of Lords.  The origin of the custom is in this way: 
During the time of Queen Elizabeth I, wool was considered as a very valuable commodity and was considered as a source of national wealth.  Many people were employed in this industry.  An Act was passed prohibiting the export of raw wool from England. To remind the judges of this law, the Queen ordered that each of them when in the House of Lords should sit on a cushion or sack stuffed with wool. Hence originates the name woolsack.

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