The figure under the clock represents Peace. In her right hand she bears an olive branch and in her left a caduceus. A cornucopia (horn of plenty) extends from her hip to her left foot. This statue is the model for the cast bronze figure of Peace over the tympanum on the roof of the palace.
This statue symbolises the end of the Eighty Years’ War and the victory of the Dutch Republic over the King of Spain, a Catholic monarch. The olive branch and caduceus are symbols of peace. The olive branch refers to Genesis 8:11, where a dove brings Noah an olive branch as a sign that the Flood is receding. As the attribute of Mercury, the god of commerce, the caduceus is also a symbol of commerce. The statue suggests that peace stimulates trade and brings prosperity (symbolised by the cornucopia).