The policies of which early political party favored banking, business, and a strong federal government?

1 Answer
Feb 28, 2018


The Federalist Party


The political party system existing in the United States between roughly 1792 and 1824 is often called the First Party System.

It consisted of two national parties competing for control of the presidency, Congress, and the states:

The Federalist Party was created mainly by Alexander Hamilton

The Federalists promoted the financial system of Treasury Secretary Hamilton. They emphasized federal assumption of state debts, a tariff to pay off those debts, a national bank to facilitate financing, and encouragement of banking and manufacturing.

The Jeffersonian Democratic-Republican Party was created by Thomas Jefferson and James Madison. At the time this party was called the "Republican Party."

The Republicans, based mainly in the plantation South, opposed a strong executive power, were hostile to a standing army and navy, demanded a strict reading of the Constitutional powers of the federal government, and strongly opposed the Hamilton financial program.

The Federalists were dominant up until 1800. Then the Republicans were dominant after 1800.