President Jefferson Was Elected As The Second President Of The United States

1483 Words Dec 1st, 2014 6 Pages
In 1801, Thomas Jefferson was elected as the third president of the United States of America. Jefferson took office as a representative of the Democrat-Republican Party with the goal of creating a bipartisan state. At this time, Federalist and Republican parties had a heated feud between each other. Jefferson wanted to minimize the differences between the two political parties and mend the damage caused from the election. During his first inaugural address, Jefferson announced to the people, “We are all Republicans, we are all Federalists.” He stressed the union between the two political parties, as he believed that all Americans shared some similar beliefs, no matter which political party they favored. Following his words, Jefferson pledged to suppress bipartisan disputes by initiating domestic and foreign policies with respect to the opinions of Federalist and Republican parties.
Before his presidential term, Thomas Jefferson was conflicted with the controversial idea of creating a national bank. In 1790, Alexander Hamilton submitted a plan to Congress, recommending the chartering of a national bank. The National Bank would serve as a depository for federal funds and function in the interests of commercial and private investments. However, the Federalists and the Republicans debated over the constitutionality of the National Bank. The Federalists believed that the United States would establish credit and financial order through national bank. On the other hand, Jefferson,…

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