Coming off the gold standard was probably the correct monetary policy at the time. But one cannot correlate the ending of deflation with a 'recovery', especially one that is sustainable and not at the expense of others (i.e. those who left the gold standard later; if a country devalues its currency it would see an 'immediate recovery', but really it's a case of taking from one hand and giving to another).

Furthermore, it may be that looser monetary policy went hand in hand with war production in leading a recovery. Convertibility was often suspended in previous wars to help finance them.

There's no consensus on this matter.