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 hackney. Judged by modern ideas the prince's show of humility appears affected, and the Florentine chronicler remarks that the honour done to King John II must have increased the misery of the captive and magnified the glory of King Edward; but this comment argues a refinement of feeling which neither Englishmen nor Frenchmen of that day had probably attained. After his return to England the Black Prince took part in the many festivals and tournaments of his father's court, and in May 1359 he and the king and other challengers held the lists at a joust proclaimed at London by