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 Quincy Adams of Massachusetts as Secretary of State, making Adams the early favorite to eventually succeed Monroe. An experienced diplomat, Adams had abandoned the Federalist Party in 1807 in support of Thomas Jefferson's foreign policy, and Monroe hoped that the appointment would encourage the defection of more Federalists. After General Andrew Jackson declined appointment as Secretary of War, Monroe turned to South Carolina Congressman John C. Calhoun, leaving the Cabinet without a prominent Westerner. In late 1817, Rush was appointed as the ambassador to Britain, and William Wirt succeeded him as Attorney General. With the exception of the Crowninshield, Monroe's