The wild fluctuations were due to a major fact that the US was in the middle of a MAJOR CIVIL WAR and reconstruction.
The government would have to be wise in its printing of them yes.
But the main thing is there is no debt on a treasury note. For every dollar the gov borrows from the FED it pays back interest (in the trillions) in US bonds.
Obviously it’s not a simple issue. And mine are just suggestions, based on my study of economics. Just trying to get across the point to anons who clearly do not understand how it works, the gold standard on a 1:1 scale would be as destructive as the FED.