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 dissenting vote so that only George Washington would have the honor of unanimous election. Plumer never mentioned Washington in his speech explaining his vote to the other New Hampshire electors. Five new states were admitted to the Union while Monroe was in office: When his presidency ended on March 4, 1825, James Monroe resided at Monroe Hill, what is now included in the grounds of the University of Virginia. He served on the university's Board of Visitors under Jefferson and under the second rector James Madison, both former presidents, almost until his death. He and his wife lived at Oak