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 principles. The Quids tried to enlist Monroe in their cause. The plan was to run Monroe for president in the 1808 election in cooperation with the Federalist Party, which had a strong base in New England. John Randolph of Roanoke led the Quid effort to stop Jefferson's choice of Madison. The regular Democratic-Republicans overcame the Quids in the nominating caucus, kept control of the party in Virginia, and protected Madison's base. Monroe did not publicly criticize Jefferson or Madison during Madison's campaign against Federalist Charles Cotesworth Pinckney, and refused to support Madison. Madison defeated Pinckney by a large margin, carrying