Even way back when the country was founded, there was a definite split between two political perspectives. The Federalists wanted to abolish the Democratic-Republicans, and vice versa. The huge differences that divided the two parties include, Who the country should be ruled by, state power in the union, how the constitution should be applied, alliance with countries in Europe, banks, and trade. Let's start with some basic background information. The Federalists were people who thought that the quarreling states could come together and make a perfect republic. James Madison is probably the most well-known Federalist of his time. The Democratic-Republicans supported to have states have their own power, and was led pretty much by Thomas Jefferson. …show more content…
The Federalists thought that the states should have little power, with the extra power given to the central government. The Democratic-Republicans supported having states that have nearly equal power to the main government. Nowadays, the Democratic-Republicans won out on this topic.
Probably the biggest difference between them is how much power the constitution has over the government. The Federalists supported having a loose constitution, meaning that it could easily be changed. They wanted the congress to easily pass around it to be able to get done what they want to get done. The Democratic-Republicans wanted a strict constitution, meaning that the congress could not easily go around the rules of the document.
Alexander Hamilton wanted to get a national bank, but being a Federalist, he couldn’t have a national bank, because it wasn’t mentioned in the constitution. Hamilton argued that it would help trade and economy in the new nation. But being as bitter rivals as the two sides were, his idea ran into heavy opposition by the opposing party. Hamilton argued the in the elastic clause allowed them to “make all laws which shall be necessary and proper” for carrying out powers. Since carrying out taxes was one of the topics covered in the constitution, Congress could set up a bank to help with collecting taxes. After much debate, Hamilton won his case, and the first Bank of the United States opened in 1791.to help the ecomomy, and