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 fitting that a bastard should inherit a kingdom, or drive out his lawfully born brother, and that no king or king's son ought to suffer such disrespect to royalty; nor could any turn him from his determination to restore the king. Peter won friends by declaring that he would make Edward's son king of Galicia, and would divide his riches among those who helped him. A parliament was held at Bordeaux, in which it was decided to ask the wishes of the English king. Edward replied that it was right that his son should help Peter, and the prince held