what led to the abandonment of this standard?
Due to the Great Depression (1929–1939)
Gold standard
This state of affairs lasted until the Great Depression (1929–1939) forced countries off the gold standard. 
who was thomas f. bayard? An American lawyer, politician and diplomat from Wilmington, Delaware which institution did he study law from? He read law at his father's office being a politician, did he have any contribution in reconstruction? He voiced opposition to the majority party's plans for reconstructing the South. what is gold standard and what was his role in setting it? The standard economic unit of account is based on a fixed quantity of gold. Thomas Bayard was a staunch supporter of the gold standard and an opponent of greenbacks and silver coinage which he believed would cause inflation. which country initialized the standard? It began thousands of years ago in Asia Minor.
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Gold standard [SEP] Abandonment of the gold standard
This state of affairs lasted until the Great Depression (1929–1939) forced countries off the gold standard. On September 19, 1931, speculative attacks on the pound led the Bank of England to abandon the gold standard, ostensibly "temporarily". However, the ostensibly temporary departure from the gold standard had unexpectedly positive effects on the economy, leading to greater acceptance of departing from the gold standard. Loans from American and French Central Banks of £50,000,000 were insufficient and exhausted in a matter of weeks, due to large gold outflows across the Atlantic. The British benefited from this departure. They could now use monetary policy to stimulate the economy.