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
Presidency of James Monroe winning the presidency, and they backed the candidacy of Governor Daniel D. Tompkins. Though Crawford desired the nomination, he did not strongly oppose Monroe's candidacy, as he hoped to position himself to succeed Monroe in 1820 or 1824. In the congressional nominating caucus held in March 1816, Monroe defeated Crawford in a 65-to-54 vote, becoming his party's presidential nominee. Tompkins won the party's vice presidential nomination. The moribund Federalist Party nominated Rufus King as their presidential nominee, but the Federalists offered little opposition following the conclusion of the War of 1812, which they had opposed. Some opponents of Monroe tried