The U.S. presidential election of
1800, in which Thomas
Jefferson was elected the nation's third president, resulted in the first
peaceful transfer of power from one political party to another in United States
history. Political parties formed after the U.S. Constitution was adopted in 1788, with
Federalists, led by Alexander Hamilton, favoring a strong federal government and
banking system, and Democratic-Republicans, led by Jefferson and James Madison. . .
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