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<p>The Federalist Party was one of the first two political parties in United States U.S history.</p><p>During the administration of President George Washington, Alexander Hamilton was , the first Secretary of the Treasury, gained followers for his fiscal policies. Hamilton and several of his friends and associates , typically urban bankers and businessmen, then formed the Federalist Party to promote their shared political ideas. Federalists believed in a strong centralized national governmentwith strong fiscal roots. They said In addition, the Federalists felt that the Constitution was a &quot;loose&quot; document that did not define all of the powers open for interpretation. In other words, Federalists believed that there were unmentioned rights belonging to the federal government should have. The , and therefore the government had the right to adopt additional powers to fulfill its duties under the Constitution.</p><p>Hamilton Hamilton’s primary concern was most concerned with the economy; he supported tariffs, a solid relationship with Great Britain, and, above all, a national bank. He took many actions that his critics claimed were unconstitutional. Chief among these was His banking policies came together with the formation of the Bank of the United States. Federalists wanted a diverse economy. The United States at this time purpose of a national bank was to provide loans to businessmen to give them a land of farmersreason them to invest in industry. At the time, the United States had an agricultural economy, while England and France were quite powerful industrial countriesindustrialized. The Federalists believed the United States needed sought to adopt a similar diversify the economy. The Bank of so that the country could compete with these European powers, and the United States would provide loans to businessmen to assist them in industrializationpromoted business. The As well, the bank also was responsible for controlling inflation by limiting the amount of money that the federal government issued. This would create created both a stable currency for the United States and encourage encouraged investment in business. </p><p>Hamilton believed that only the wealthiest and most educated white men should rule in Americagovern the country. If He feared that working-class or even middle-class people came citizens would be corrupted by greed if they were to power, greed might corrupt thembe responsible for finances. Hamilton and This was one characteristic that influenced the Federalist Party wanted Federalists to model mold themselves after England, both economically and politically. They wanted The other was the aforementioned desire to become industrialized and to allow only the most educated and wealthy people to rule.</p><p>John Adams was the only Federalist President. George Washington never joined a political party, but his decisions while president usually favored the Federalist PartyFederalists. </p><p>The Federalist Party party ceased to exist at the end of the War of 1812. Some Numerous Federalists opposed the war. Many because many of these men earned their living through trade. The conflict hampered the Federalists' ability to trade exchange with England. In Tensions increased so much so that by 1814, some Federalists in New England said they might break away threatened to secede from the United States and to form their own country unless the U.S. American government immediately sought peace. With the signing of the Treaty of Ghent in 1814 and the end of the War of 1812, many Americans viewed the Federalists as traitors. The Federalist Party collapsed, leaving the Democratic-Republican Party as the only political party in the United States until the mid-1820s.</p><p>The Federalist Party was the strongest political party in the Northwest Territory prior to statehood. Arthur St. Clair, governor of the Northwest Territory, actively sought to secure Federalist dominance of the government. For example, he felt that Ohio should be split into two states, that way the Federalists dominated both. By 1803, the Democratic-Republican Party, however, had emerged as the dominant force in the Ohio government. This is evident in the Ohio Constitution of 1803, which established a relatively weak government, with the legislative branch holding most of the power. Most of Ohio's earliest political officials were Democratic-Republicans, including Thomas Worthington, one of Ohio's first two United States Senatorssenators.</p>