These resolutions say that it is the state’s duty to restrain the centralized government’s power, and the states should not allow the Federal government to have any more power than what was explicitly provided to it in the Constitution. This ultimately allowed the Federal government to do what it was intended to do and nothing more- regulate, not rule. Once the Constitution was ratified and the Federal government was established, Madison began to lose his belief in pro-banking Federalism. He then met with Jefferson, and later helped found the Democratic-Republican Party. In 1790, Hamilton’s Assumption Bill was at a Congressional stalemate.
Thomas Jefferson was Democratic-Republican. He opposed Hamilton’s banking plan, along with his Federalist views. He feared that allowing the Federal government to collect, hold, and spend all of the money gained from Hamilton’s pan would be dangerous and give too much power to it. This is why Jefferson supported the Virginia and Kentucky