There were several similarities and differences between the Federalists and the Democratic-Republicans. These similarities and differences revolved around the ideas of funding the public debt, U. S relations with Great Britain and France, and the creation of a National Bank.
The Democratic-Republicans were wary of accumulating debt and of too much government interference and spending (edsitement. com, 2009). The Democratic-Republicans felt as though the debt had been “artificially created (Letter from Thomas Jefferson to George Washington, 1792).”The Democratic-Republicans were also for lower taxes. This was most succinctly stated in a letter from Albert Gallatin to Thomas Jefferson in which Gallatin states that “if this Administration shall not reduce taxes, they never will be permanently reduced (1801).
” This contrasts with the Federalists who thought it was in the best interests of the country to have the states unified by a consolidated debt. The Federalists felt that the country was best served in the long run by being unified by the debt from the Revolution.The next problem that was encountered by both the Democratic-Republicans and the Federalists was the one regarding international relations. Here, both parties agreed on the point that some sort of international alliance was necessary. The differences were in where that alliance should lie.
The Democratic-Republicans though that Britain should be “dreaded and watched (James Madison, 1799),” and subsequently thought that a relationship with France was a better choice than a relationship with Britain.This contrasted with the Federalists, who thought that Great Britain was a valuable resource, and dialogue should be maintained lest the relationship degrade into war. The third issue revolved around the idea of a National Bank. While the Democratic-Republicans argued that the federal government should not be in the banking business, they did concede that that the states had the right to engage in such commerce. The Federalists, on the other hand, thought that the idea of a Federal bank was in the best interests of the nation.Hamilton argues that all money in the charge of the public is indeed public property and a national bank is constitutional because the constitutional because the Constitution is authorized to regulate United States property.
The period after the War of 1812 is referred to as the “Era of Good Feelings” because there was an apparent lack of acrimony between the political parties. This can be evidenced by the fact that the national mood was generally very good. This can also be evidenced by the fact that James Monroe was elected with all but one Electoral College vote.The Missouri Compromise was also affected during this time. Finally, the Federalist party ceased to be a major power and instead the Democratic-Republicans governed on a national level without much opposition.
Other issues that were hotly debated prior to this era were either resolved or deferred. Additionally, the Monroe Doctrine was enacted during this time. This doctrine effectively gave Europe the ultimatum to stay out of Latin American affairs, and the affairs of North America.It made the North and South American continents the purview of the United States and was the United States’ first attempt at international relations. Monroe did not want the European states reasserting their control over Latin American Colonies that had declared their independence. The “Era of Good Feelings” also extended itself to building projects and the economic life of the country.
The turnpike era, the canal craze, the railroad era and the steamboat era all coincided during this time. Additionally, the industrialization of the north and the agrarian culture of the south both grew and developed during this time.
