Presidency of James Monroe Party faded as a national institution during his presidency. The Democratic-Republicans also stopped functioning as a unified political party, and the period during which Monroe served as president is often referred to as the "Era of Good Feelings" due to the lack of partisan conflict. Domestically, Monroe faced the Panic of 1819, the first major recession in the United States since the ratification of the Constitution. He supported many federally-funded infrastructure projects, but vetoed other projects due to constitutional concerns. Monroe supported the Missouri Compromise, which admitted Missouri as a slave state but excluded slavery in the remaining territories north
James Monroe As president, he sought to ease partisan tensions, embarking on a tour of the country that was well received. Monroe sought to appease the antagonisms and bridge the divisions that had marked American political life since the War of 1812, quietly using his influence as president to encourage compromises and endorsing a consensual form of American patriotism. This method of leadership led historian William E. Weeks to name him the first American "hidden hand president" in reference to Eisenhower's similar practices. With the ratification of the Treaty of 1818 under the successful diplomacy of his Secretary of State John Quincy