which country initialized the standard?
It began thousands of years ago in Asia Minor.
Gold standard
The use of gold as money began thousands of years ago in Asia Minor.
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.
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Gold standard [SEP] Origins
The gold specie standard arose from the widespread acceptance of gold as currency. Various commodities have been used as money; typically, the one that loses the least value over time becomes the accepted form. The use of gold as money began thousands of years ago in Asia Minor. During the early and high Middle Ages, the Byzantine gold solidus, commonly known as the bezant, was used widely throughout Europe and the Mediterranean. However, as the Byzantine Empire's economic influence declined, so too did the use of the bezant. In its place, European territories chose silver as their currency over gold, leading to the development of silver standards.