The first parties, formed during the very first presidency in spite of George Washington's opposition to political parties, were the Federalists and the Democratic-Republicans. These two parties differed in their view of mankind, and therefore of the best form of government.
The Federalists believed that man was inherently bad and learned through education and breeding to be good. Naturally, they believed that only the best people --- wealthy, well educated and high born and raised --- were good enough to rule. In short, Federalists did not trust the common man and did not feel he should be trusted with political power, such as voting or holding office.
Democratic-Republicans believed that man was born naturally good, and learned to be bad. They felt that even the lowliest man was basically good and, even without a formal education, capable of making decisions because he had common sense. All men, therefore, should have the vote and be able to run for office.
This basic disagreement about the natural goodness of man was the source of all the other issues on which they disagreed. Because they trusted the common man, Democratic-Republicans believed he should vote and hold office. The Federalists, because they did not trust the basic goodness of the common man did not feel he should vote and hold office. The Federalists believed in Democracy, but felt that democracy should be limited to competing elites, not everyone. Voters should choose only between well-born, well educated, and wealthy candidates. Federalists believed the right to vote should be limited to tax payers or land owners, which excluded most of the common men.
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