Born in Newport, New Hampshire, Stanard moved to Iowa Territory with his parents in 1836, completed preparatory studies and moved to St. Louis, Missouri in 1853. He taught school in Illinois in 1854 and 1855, graduated from St. Louis Commercial College in 1855, engaged in the commission business in 1856 and later in the milling business in St. Louis. Stanard was elected a Republican to be the 14th Lieutenant Governor of Missouri in 1868, serving from 1869 to 1871, and was elected to the United States House of Representatives in 1872, serving from 1873 to 1875, being unsuccessful for reelection in 1874.