Federalist Party: This was one of America's first political parties formed by Alexander Hamilton. They believed in a strong central government and supported policies favoring industry and trade.
Democratic-Republican Party: Also known as Jeffersonian Republicans or simply Republicans, this party was founded by Thomas Jefferson and James Madison. They advocated for states' rights, agricultural economy, limited central government power, and strict interpretation of the Constitution.
Alexander Hamilton: He was a key figure in American politics who co-founded the Federalist Party. Hamilton played a significant role in shaping economic policies such as establishing a national bank and promoting industrialization.