Don't tell anyone, but we had fractional reserve banking under the gold standard too. Shhhh.....
They did, the worst bank runs and arguably the worst depression in our country’s history(1870s) occurred under the Gold Standard. The Gold Standard just gave legitimacy to an illegitimate practice. Nonetheless, the Federal reserve System props up Fractional reserve Banking at a national level in this country. Also, the National debt and inflation have skyrocketed since 1913. Our Treasury should be able to print it’s own money with out having to borrow to make up for budget shortfalls,having a national debt and such high taxes is illogical.