The principle advanced is simple: the same dollar bill, used twice, is as effective as two individual dollar bills; the same amount of gold reserve has done twice the work.

其实原理非常简单：同样一张一美元钞票，使用两次之后，便具有相当于两张一美元的效力；相同数量的黄金储备发挥了两倍的作用。

youdao

He talked about the gold standard that America was on, and that each dollar bill was actually a silver certificate.

他说到美国正处于金本位制，每一张美钞实际就是一枚金属货币。

youdao

Under the gold standard your dollar bill represented so many ounces of gold and you were supposed to be able to always get that gold.

在金本位制度下,你的纸币表示着,很多盎司的金子,并且你可以一直兑换那些金子。

耶鲁公开课 - 金融市场课程节选

When the dollar was last unquestionably convertible into gold (at least internationally), in the 1950s and early 1960s, Treasury bill yields averaged 2.2% and yields on longer maturities averaged just 3.3%.

FORBES: An Open Letter To House Speaker John Boehner