The silk thread is so flexible that the pendulum would have a tendency rotate without the square peg in the square hole to keep it lined up, at least that's what I understand.
RC
I think you are likely correct - I had never thought of that being the reason, but it makes perfect sense.
I haven't seen very many silk thread suspension clocks.
I have seen lots of them, and it still didn't occur to me! You're never too old to learn, as they say.
JTD