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Definition of the gold standard. 1 : a system in which a unit of money (such as the dollar) is equal to a particular amount of gold The United States was still on the gold standard in the early 20th century.
Golden Fetters: The Gold Standard and the Great Depression, 1919-1939. New York: Oxford University Press, 1992. Field, Alexander J. âUncontrolled Land Development and the Duration of the Depression in the United States.â Journal of Economic History 52 (June 1992): 785-805. Friedman, Milton, and Anna Jacobson Schwartz.