GOLD STANDARD • FREE TRANSLATOR.ORG • Definition of Gold standard

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/goʊld stˈændərd/ Listen

Gold standard

noun

A monetary standard under which the basic unit of currency is defined by a stated quantity of gold.

A paragon of excellence.

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Etymology of 'Gold standard'

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"Gold standard" Quotes from Famous Books

... a whisper blew away the banks. They could not redeem their promises to pay. These were no longer available for currency: they had driven from the country the coin, and there was no money. The merchants failed, the planters failed, money appreciated to the gold standard, and property correspondingly depreciated; and ruin—financial ruin—swept over the country ...

— The Memories of Fifty Years • William H. Sparks

... at any former time in the world's history. In spite of all the opposition which fanaticism and ignorance could offer to the natural trend of events in the commercial and financial life of the world, the gold standard now rests on an impregnable base; and every year witnesses some new triumph for those who accept it as the foundation of the civilised monetary system. This being the case, it is obvious that the conditions affecting the production of gold must possess a very peculiar interest even for ...

— Twentieth Century Inventions - A Forecast • George Sutherland

... convention of the American Bankers' Association in September, 1885, a New York bank president described the methods by which the Treasury Department was restricting the operation of the Silver Coinage Act so as to avoid a displacement of the gold standard. On February 3, 1886, Chairman Bland of the House committee on coinage reported a resolution reciting statements made in that address, and calling upon the Secretary of the Treasury for a detailed ...

— The Cleveland Era - A Chronicle of the New Order in Politics, Volume 44 in The - Chronicles of America Series • Henry Jones Ford

... $200,000. The fall in the value of silver caused depreciation and a few of the silver coins of this issue which are still in circulation are valued at forty cents gold for five francs; the copper coins at a little less. In 1894 the gold standard was adopted and though no actual coinage took place all official financial transactions were thereafter based upon gold values. In 1895 and 1897 President Heureaux issued more silver coins or, rather, ...

— Santo Domingo - A Country With A Future • Otto Schoenrich

... Its increasing abundance rendered it unsuitable for money, especially when contrasted with gold. The "silver craze," which had raged in the closing decade of the nineteenth century, was already a forgotten incident of financial history. The gold standard had become universal, and business all over the earth had adjusted itself to that condition. The wheels of industry ran smoothly, and there seemed to be no possibility of any disturbance or interruption. The common monetary ...

— The Moon Metal • Garrett P. Serviss