Given a common gold standard, the value of any currency in units of any other currency (the exchange rate) was easy to determine
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TRUE
Pegging currencies to gold and guaranteeing convertibility is known as the gold standard. By 1880, most of the world's major trading nations, including Great Britain, Germany, Japan, and the United States, had adopted the gold standard. Given a common gold standard, the value of any currency in units of any other currency (the exchange rate) was easy to determine.
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Much of what Amos Kendall did in the "kitchen cabinet" of President Andrew Jackson is similar to what a presidential press secretary does today
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