The Federalists primarily supported a strong central government and a liberal interpretation of the Constitution. Alexander Hamilton, who proposed the first Bank of the United States, was a Federalist. He also had proposed a tax on whiskey as a means of funding the Federal government.
Jeffersonian Republicans tended to support a strict interpretation of the Constitution. Jefferson and James Madison had opposed the idea of a Bank of the United States not so much because they thought the bank was a bad idea; but because they felt this was an imprudent interpretation of Congressional power.
In terms of foreign policy, the Federalists opposed the War of 1812 as they were situated primarily in the North where the War had hurt shipping. In fact, a group of Federalists had proposed seceding from the Union and forming a new nation. Aaron Burr was to lead the way by becoming Governor of New York and leading the way. The plan was thwarted when Hamilton made unsavory remarks in a newspaper article about Burr which cost him the election--and ultimately Hamilton his life, as Burr killed him in a duel.