ties, not merely of certain
errors and misconceptions, but also of certain convictions, which had
been considered essential. The Republicans tacitly admitted the
substantial falsity of their attacks upon the Federal organization. The
many Federalists who joined their opponents abandoned without scruple
the whole spirit and purpose of the Hamiltonian national policy. But at
any rate the reconciliation was accomplished. The newly founded American
state was for the time being saved from the danger of being torn asunder
by two rival factions, each representing irreconcilable ideas and
interests. The Union, which had been celebrated in 1789, was consummated
in 1801. Its fertility was still to be proved.

When Jefferson and the Republicans rallied to the Union and to the
existing Federalist organization, the fabric of traditional American
democracy was almost completely woven. Thereafter the American people
had only to wear it and keep it in repair. The policy announced in
Jefferson's first Inaugural was in all important respects merely a
policy of conservatism. The American people were possessed of a set of
political institutions, which deprived them of any legitimate grievances
and supplied them with every reasonable opportunity; and their political
duty was confined to the administration of these institutions in a
faithful spirit and their preservation from harm. The future contained
only one serious danger. Such liberties were always open to attack, and
there would always be designing men whose interest it was to attack
them. The great political responsibility of the American democracy was
to guard itself against such assaults; and should they succeed in this
task they need have no further concern about their future. Their
political salvation was secure. They had placed it, as it were, in a
good sound bank. It would be sure to draw interest provided the bank
were conservatively managed--that is, provided it were managed by loyal
Republicans. There was no room or need for any increase in the fund,
because it already satisfied every reasonable purpose. But it must not
be diminished; and it must not be exposed to any risk of diminution by
hazardous speculative investments.

During the next fifty years, the American democracy accepted almost
literally this Jeffersonian tradition. Until the question of slavery
became acute, they ceased to think seriously about political problems.
The lawyers were preoccupied with certain impo