of the school of
Jefferson were jealous of moneyed institutions, but Hamilton succeeded
in having a hank established though not with so large a capital as
he desired.

It need not he told that the various debates in Congress on the funding
of the national debt, on tariffs, on the bank, and other financial
measures, led to the formation of two great political parties, which
divided the nation for more than twenty years,--parties of which
Hamilton and Jefferson were the respective leaders. Madison now left the
support of Hamilton, and joined hands with the party of Jefferson, which
took the name of Republican, or Democratic-Republican. The Federal
party, which Hamilton headed, had the support of Washington, Adams, Jay,
Pinckney, and Morris. It was composed of the most memorable names of the
Revolution and, it may be added, of the more wealthy, learned, and
conservative classes: some would stigmatize it as being the most
aristocratic. The colleges, the courts of law, and the fashionable
churches were generally presided over by Federalists. Old gentlemen of
social position and stable religious opinions belonged to this party.
But ambitious young men, chafing under the restraints of consecrated
respectability, popular politicians, or as we might almost say the
demagogues, the progressive and restless people and liberal thinkers
enamored of French philosophy and theories and abstractions, were
inclined to be Republicans. There were exceptions, of course. I only
speak in a general way; nor would I give the impression that there were
not many distinguished, able, and patriotic men enlisted in the party of
Jefferson, especially in the Southern States, in Pennsylvania, and New
York. Jefferson himself was, next to Hamilton, the ablest statesman of
the country,--upright, sincere, patriotic, contemplative; simple in
taste, yet aristocratic in habits; a writer rather than an orator,
ignorant of finance, but versed in history and general knowledge,
devoted to State rights, and bitterly opposed to a strong central power.
He hated titles, trappings of rank and of distinction, ostentatious
dress, shoe-buckles, hair-powder, pig-tails, and everything English,
while he loved France and the philosophy of liberal thinkers; not a
religious man, but an honest and true man. And when he became President,
on the breaking up of the Federal party, partly from the indiscretions
of Adams and the intrigues of Burr, and hostility to the intellectual
su