Duchy of Cornwall from Duchy income, assisted by Grants-in-aid from the Queen. If there is no duke (for example, if the monarch does not have any male children) the duchy income reverts to the monarch and the annual Sovereign Grant is reduced annually by the amount of the duchy's income. The duchy was established on 17 March 1337 by the Royal Great Charter out of the former Earldom of Cornwall by Edward III for his son, Edward, Prince of Wales, the "Black Prince", who became the first Duke of Cornwall. The charter established that the Duke of Cornwall is to be the eldest
Edward VII Saxe-Coburg and Gotha in favour of his younger brother, Prince Alfred. Queen Victoria and Prince Albert were determined that their eldest son should have an education that would prepare him to be a model constitutional monarch. At age seven, Edward embarked on a rigorous educational programme devised by Prince Albert, and supervised by several tutors. Unlike his elder sister Victoria, Edward did not excel in his studies. He tried to meet the expectations of his parents, but to no avail. Although Edward was not a diligent student—his true talents were those of charm, sociability and tact—Benjamin Disraeli described him as