Differ between the Federalist and Republican Party in terms of origin principle and policies in regard to banks, taxes, and foreign nations?
Compare and Contrast between the Republican and Federalist Party.
The Federalist Party was the party of Alexander Hamilton. It originated with those who supported the adoption of the Federal Constitution and saw the need for a strong central government. Typical of Hamiltonian policy, they favored a liberal and broad construction of the Constitution. The Republicans were the party of Jefferson and Hamilton. They were distrustful of a strong central government, primarily because of the perceived abuses suffered under the British Parliament, and wanted power reserved to the States. They tended to interpret the Constitution very narrowly. A prime example of the differences between the two came with Hamilton's plan for a Bank of the United States. The Republicans vigorously and vociferously opposed it as there was no provision in the Constitution for Congress to create a bank. Their argument was that if one construed the Constitution that liberally, one had opened a Pandora's box that would lead to limitless power.
Both parties recognized the need for taxes, as the Constitution specifically provided Congress with the power to tax. In terms of foreign policy, the Federalists tended to prefer an alliance with Great Britain; whereas the Republicans, who favored Freedom over security, supported France. George Washington wisely chose a middle course, and issued a proclamation of Neutrality supporting neither side in the ongoing European War. John Adams, a Federalist, threatened to resign if Congress declared war on France after the XYZ affair.
The Republicans were the moving force behind the Virginia and Kentucky Resolutions which supported the States' prerogative to declare acts of Congress unconstitutional within their respective borders. Such a position was anathema to the Federalists.