Question

one advantage of the _____ was that the government could only issue currency if it had gold in the treasury to back it

Answer 1

What is the gold standard?

Answer 2

The U.S. went off the gold standard under President Nixon in 1971. What may not be widely known is that the classic gold standard that the U.S. was utilizing (and that Britain and France had followed before) included a 40 percent cover ratio.