Lyric discussion by yurig 

and does anyone know what "the last living rose" is in reference to?

@yurig I'd say it's a reference to the roses of the Houses of York and Lancaster that vied for the throne of England. Ultimately the House of Tudor prevailed, the last monarch of that dynasty being Elizabeth I. Elizabeth I's reign is considered to be a golden age of England that saw the birth of the British Empire. It also links to our present time through the current monarch Elizabeth II whom has reigned over the subsequent decline of the empire.

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