Britain: Royal Bind

London dock workers last week started a collection to buy Prince Philip a polo pony. Newspaper columnists suggested that Queen Elizabeth save on household expenses by reusing tea leaves. Cartoonists depicted the royal family as hocking the crown jewels or renting out some of Buckingham Palace's 600 rooms. Parliament debated a subject that the House almost always discreetly avoids—the state of the Queen's finances.

The furor was started by Prince Philip. While on a visit to the U.S. earlier this month, he was asked on television if the Queen was having trouble making ends meet on her allowance of $1,140,000...

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