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The Whig Party was a political party of the United States during the era of Jacksonian democracy.
Considered integral to the Second Party System and operating from the early 1830s to the mid-1850s, the party was formed in opposition to the policies of President Andrew Jackson and his Democratic Party.
In particular, the Whigs supported the supremacy of Congress over the presidency and favored a program of modernization and economic protectionism.
In an analysis of the contemporary party system, Jefferson wrote on Feb. 12, 1798: "Two political Sects have arisen within the US, the one believing that the executive is the branch of our government which the most needs support; the other, that like the analogous branch in the English Government, it is already too strong for the republican parts of the Constitution; and therefore in equivocal cases they incline to the legislative powers: the former of these are called federalists, sometimes aristocrats or monocrats, and sometimes tories, after the corresponding sect in the English Government of exactly the same definition: the latter are stiled republicans, whigs, jacobins, anarchists, disorganizers, etc. these terms are in familiar use with most persons.
Both parties originated in national politics, but later expanded their efforts to gain supporters and voters in every state.
The Federalists appealed to the business community, the Republicans to the planters and farmers.
By 1796 politics in every state was nearly monopolized by the two parties, with party newspapers and caucuses becoming especially effective tools to mobilize voters.
The Federalists promoted the financial system of Treasury Secretary Hamilton, which 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 Republicans, based in the plantation South, opposed a strong executive power, were hostile to a standing army and navy, demanded a limited reading of the Constitutional powers of the federal government, and strongly opposed the Hamilton financial program.
Perhaps even more important was foreign policy, where the Federalists favored Britain because of its political stability and its close ties to American trade, while the Republicans admired the French and the French Revolution.
Jefferson was especially fearful that British aristocratic influences would undermine Republicanism.
Britain and France were at war from 1793 through 1815, with one brief interruption.
American policy was neutrality, with the Federalists hostile to France, and the Republicans hostile to Britain.
The Jay Treaty of 1794 marked the decisive mobilization of the two parties and their supporters in every state.
President George Washington, while officially nonpartisan, generally supported the Federalists, and that party made Washington their iconic hero.
The First Party System ended during the Era of Good Feelings (1816–1824), as the Federalists shrank to a few isolated strongholds and the Republicans lost unity.
In 1824-28, as the Second Party System emerged, the Republican Party split into the Jacksonian faction, which became the modern Democratic Party in the 1830s, and the Henry Clay faction, which was absorbed by Clay's Whig Party.
The Republicans were supported by farmers, while the Federalists were supported by the business community, The Federalists favored a strong national bank, while the Republicans favored limits on government power, The Federalists supported Britain, while the Republicans supported France, and The Republicans favored free trade, while the Federalists favored trade tariffs and import limits
Source: Boundless. “The Development of Political Parties: 1800-1824.” Boundless Political Science. Boundless, 14 Nov. 2014. Retrieved 24 Apr. 2015 from https://www.boundless.com/political-science/textbooks/boundless-political-science-textbook/interest-groups-7/the-history-of-political-parties-55/the-development-of-political-parties-1800-1824-317-4264/