A country "on" the gold standard:

Question

Quizplus · Accepted Answer

When a country is on the gold standard, it promises to exchange its currency for gold at an established rate. This means that people can exchange their paper money for gold if they so desire. The amount of paper money a country can print is limited by the amount of gold it has in reserve. Therefore, a country on the gold standard cannot print as much paper money as it needs, nor is it required to use only gold to make purchases, nor is the use of gold coins mandatory. It also does not mean that its loans are guaranteed by gold.

A Country "On" the Gold Standard