Federalists vs Republicans

With the newly written Constitution, there were two main ways to go forth interpreting the document.  This was the very beginning of the United States having political parties with differing ideas and beliefs.

Federalist Party

Alexander Hamilton believed in a loose interpretation of the Constitution.  This meant that the Constitution could be interpreted to have rights not strictly written in writing.  Hamilton and the Federalists believed in a strong central government.  Trading and business within the states and also with foreign countries were strongly favored.  The Federalists were not huge fans of the French Revolution.  With the idea of loose construction of the Constitution, a centralized banking system would be permitted.  

Republican Party

James Madison and Thomas Jefferson believed differently.  This meant that the Constitution said what was written and only what was written were rights given to the government and individuals.  Jefferson and the Republicans liked the idea of focus on agriculture and individual power.  This meant a weaker central government than the Federalists had in mind.  These followers believed in the ideas of the French Revolution and the democratic ideals associated with it.