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
Oak Hill (James Monroe house) to sell that property to pay debts he had incurred while serving as President. Monroe had put Oak Hill on the market in 1809, and placed an advertisement in "The Washingtonian" on December 23 of that year: He also attempted to sell the land in 1825, but failed to receive an acceptable bid both times. In 1822, Monroe began construction on the main house, a two-story brick mansion in the Federal style. He hired James Hoban, the designer of the White House, to serve as architect. Monroe's longtime friend and political mentor Thomas Jefferson offered many design suggestions. Monroe and