Richard Cobden was an MP for West Riding for many years and heavily involved in Anti-Corn Law League which demanded a free trade policy. He was the main force in converting the Prime Minister, Sir Robert Peel to repealing the Corn Laws. Between 1847 and 1857 Cobden sat in the House of Commons as MP for West Riding. His statue was a gift from George Henry Booth from the United States of America. Henry Booth was a partner in the firm Firth Booth & Co., stuff merchants in Bradford. The marble statue is carved from a single block of Italian Carrara marble. It stands on a red polished granite plinth upon a stone base. The wool exchange has in recent years undergone major renovations to provide modern retail and office space. The wool exchange and contents are Grade I listed.