Conclusion of Early Period
Hamilton was a towering figure in the nation's early economy. Americans tended to have strong feelings for or against his policies, which is one of the major reasons for the birth of the political party system. Those who supported his plans and those who opposed them organized into groups. Hamilton became one of the leaders of the Federalists, who believed in a strong central government and extensive government intervention in the economy. Their opposition, under the leadership of Thomas Jefferson, were called the Democratic-Republicans, or Republicans. The Republicans generally supported strong state governments and a relatively weak federal government.
Despite the concerns of his critics and incidents like the Whiskey Rebellion, Hamilton's policies were largely successful in helping establish a stable economy. He established American credit; helped the government meet its revenue needs; stimulated commerce and industry; and helped the government win the support of powerful businessmen, as well as the general respect of the people of the new nation.