The debate concerning the gold standard is interesting and roughly two hundred years too late. The members to the Constitutional Convention debated the issue and decided that the best protection for the People rest in gold and silver coinage. The Federal government's role in the monetary supply was limited to setting weights and measures for the coinage.
Gold is a commidity, like any other, with a value in and of itself. What is the value of the Federal Reserve Note? It is a piece of paper that is not issued by the "Federal Government" and is not backed by a "Reserve" of gold or silver. Gold and silver have stood the test of time to act as a means of exchange. Paper money has always failed for the simple fact that those who control the supply never turn off the printing press.