This institution continued until the middle of the reign of Henry VIII, when it fell into disuse. It was reestablished in 1627, by Charles I, who then issued the following proclamation: "Whereas the exchange of all manner of gold and silver current in moneys or otherwise, as the buying, selling and exchanging of all manner of bullion, in species of foreign coins, billets, ingots, etc., fine, refined, or alloyed howsoever, being fit for our mint, hath ever been and ought to be our sole right, as part of our prerogative, royal and ancient revenue, wherein none of our subjects of whatever trade or quality soever, ought at all, without any special license, to intermeddle, the same being prohibited by divers Acts of Parliament and Proclamations, both ancient and modern. And whereas ourself and divers of our royal predecessors have, for some time past, tolerated a promiscuous kind of liberty to all, but especially to some of the mystery and trade of goldsmiths in London and elsewhere, not only to make the said exchanges, but to buy and sell all manner of bullion, and from thence some of them have grown to that licentiousness, that they have for divers years presumed, for their private gain, to sort and weigh all sorts of money current within our realm, to the end to cull out the old and new moneys, which, either by not wearing or by any other accident, are weightier than the rest, which weightiest moneys have not only been molten down for the making of plate, etc., but even traded in and sold to merchant-strangers, etc., who have exported the same, whereby the consumption of coins has been greatly occasioned, as also the raising of the silver even of our own moneys to a rate above what they are truly current for, by reason whereof no silver can be brought up to our mint but to the loss of the bringers, etc. For the reforming of all which abuses we have, by the advice of our Privy Council, determined to assume our said right, for our own profit and the good of the realm, and for this end we do now appoint Henry, Earl of Holland, and his deputies, to have the office of our changes, exchangers, and out-changes whatsoever, in England, Wales, and Ireland. And we do hereby strictly charge and command that no goldsmith nor other person whatsoever, other than the said Earl of Holland, do presume to change, etc."