[Pelham]

So in the particular case of Hamilton you concede that it was necessary to make the dollar exchangeable for gold?

If that’s so, then at what point did it become necessary or wise to break the link to gold? At the time Hamilton set up American finances there was very little specie in the U.S., far less than the amount of dollars in existence at the time of assumption.

[Toddsterpatriot]

So in the particular case of Hamilton you concede that it was necessary to make the dollar exchangeable for gold?

Sure. Why wouldn't I?

If that’s so, then at what point did it become necessary or wise to break the link to gold?

What's so great about gold? Did it prevent inflation or deflation?

[Moonman62]

Hamilton's best deed was to insist that the United States, which was virtually bankrupt, pay off all its debts after the Revolutionary War.

Linking a currency to gold may be beneficial to a young country with questionable finances. These days such countries link their currency to solid currencies like the dollar or the euro. Ultimately a cuurency's value depends on the stewardship of the government, its honesty, and truthful accounting. Gold standards tend to give a false sense of security, such as Bretton Woods in the 1960's or Germany of the 1920's.