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 the Black Prince him sent a messenger to tell his father that he was in great straits and to beg for assistance. When Edward learned that his son was unwounded, he responded that he would send no help, for he wished to give the prince the opportunity to "win his spurs" (he was in fact already a knight), and to allow him and those who had charge of him the honour of the victory. The prince was thrown to the ground and was rescued by Sir Richard FitzSimon, his standard bearer, who threw down the banner, stood over his body, and beat back