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TeachMeFinance.com - explain Standard historic definition... Standard -- In its relation to money standard means the measure or basis of value. A country where gold alone is by law the basis of value has a single standard ; where silver alone is by law the basis of value the country has a single standard. Where both gold and silver are used, the one in fixed proportion to the other, the country has a double standard or bimetallic standard. A country using paper money alone has no standard. For additional information see Monetary standard. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.