Charles pays debt 350 years later
2008-06-11 09:03
London - Heir to the British throne Prince Charles on Tuesday paid off a family debt incurred more than 350 years ago - but was spared the accumulated interest that could have run into tens of thousands of pounds.
Charles handed over £453 and 15 pence (R7 040) which King Charles II failed to pay to the Clothiers Company in Worcester, central England, in 1651.
The king had commissioned uniforms for his troops to fight the republican forces of Oliver Cromwell at the Battle of Worcester the same year.
The modern-day Charles handed over the cash on a visit to the former headquarters of the royalist troops in the Faithful City, so-called because it remained loyal to his ancestor during the English Civil War.
"It seems that members of the Clothiers Company have a long memory," he said. "By long I mean nearly 400 years. Nevertheless, as a gesture of good will I come today prepared to honour this debt of £453 and three shillings.
"I suspect that it will not have escaped your notice, however, I am resisting the immense temptation to pay the debt with full interest. I was not born yesterday."
The high commissioner of the Clothiers Company, Philip Sawyer, accepted the money and gave the future king a receipt.
If interest was taken into account, £453 and three shillings in 1651 would have been worth approximately £47 500, the BBC website said, citing the Institute for the Measurement of Worth.