During the Civil War the U.S. experienced high inflation with unbacked currency.If immediately after the war the U.S. Treasury had decided to make the dollar convertible into gold at the pre-War rate then...

-It would have stabilized the economy.

-British citizens would have converted large amounts of pounds into dollars.

-British goods would have become relatively more expensive than before.

-The U.S. Treasury would have quickly run out of gold.