No, before the USD became the world reserve currency at Bretton Woods, England was already running a pound sterling exchange system. In fact, it was because our central banks colluded to restore the pound to its pre war parity that the U.S. suffered the roaring twenties followed by the Great Depression. Blame Norman Montagu and Benjamin Strong for that.

Check out Rothbard's America's Great Depression, and his History of Money and Banking for all the juicy details. Also helpful are his The Mystery of Banking, and his The Progressive Era.

🤙🏼

That said - there were periods of inflationary credit expansion before 1913, e.g., in the War Between the States (a.k.a. "Civil War"). And I'm pretty sure the Southern Conferdates currency was fiat but not certain on that.