Charles pays 17th century royal debt

Source: Agencies  |   2008-6-12  |     NEWSPAPER EDITION

BRITISH Prince Charles has paid off a family debt from the 17th century, but showed modern day financial acumen by declining to pay the accumulated interest, which would have been substantial after more than 350 years.

The payment of 453 pounds and 3 shillings (US$900) was made on Tuesday during a visit to Worcester by Charles and his wife Camilla.

The debt was incurred in 1651 when King Charles II - at the time recognized only as the king of Scotland - was preparing for the Battle of Worcester. He asked the Clothiers Company in Worcester to prepare uniforms for his soldiers and pledged to pay afterward but his forces were defeated and Charles fled to mainland Europe.

He left behind the unpaid bill, and never got around to paying it after he returned from exile in 1660 to claim his throne as king of England.

Worcester businessmen have tried to collect the bill for the last 15 years, and Prince Charles decided to pay it as "a gesture of goodwill," according to a statement.

The Clothiers Company of Worcester is a guild that began in the 13th century and is today the last of the medieval-era guilds still active in the Worcester area. It tries to continue the guild's traditions with regular meetings at the Commandery, which served as the royal headquarters during the battle.

The Master of the Clothiers Company, Andrew Grant, received the money from the prince in a 1650-style gaming purse made by the Royal Shakespeare Company. The two met at the Commandery for a brief ceremony, and Prince Charles received an official receipt for his payment.

"We are very grateful to the Prince of Wales for repaying the debt to the Worcester Clothiers Company," Grant said.

Prince Charles said he was happy to take care of the debt but joked that he would not be paying the interest because "I was not born yesterday."