This is a mechanism identical to today's currency boards, which is why I say that a gold standard system is like a "currency board linked to gold.

这一机制跟今天的货币发行局作用相同，这也是为什么我说金本位制度就像是一个“与黄金挂钩的货币发行局”。

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Gold Standard Monetary system in which the value of its currency is based on the fixed amount of gold which backs it.

金本位货币价格基于支持该货币的一定数量黄金的货币制度。

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The Federal Reserve System has done a miserable job, with or without a gold standard, of providing the correct amount of currency for the economy.

联邦储备系统已经做了一个悲惨的工作，使用或不使用金标准，为经济提供了正确的货币量。

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Under the old gold standard system, a currency could be converted into fixed amounts of gold and vice versa.

FORBES: Magazine Article

In this vein, let us remember that a national gold standard is still a fiat currency system, and fiat systems are immoral.

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With that said, the 19th century did have some periods when the intent to reinstate a gold standard system, after a currency devaluation, resulted in a rising currency, with some recessionary effects.

FORBES: The Gold Standard, and the Myth About Money Growth