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 Jefferson continued to serve as a mentor to Monroe, and, at Jefferson's prompting, he befriended another prominent Virginian, James Madison. Monroe resigned from Congress in 1786 to focus on his legal career, and he became an attorney for the state. In 1787, Monroe won election to another term in the Virginia House of Delegates. Though he had become outspoken in his desire to reform the Articles, he was unable to attend the Philadelphia Convention due to his work obligations. In 1788, Monroe became a delegate to the Virginia Ratifying Convention. In Virginia, the struggle over the ratification of the proposed