THE NATIONAL BANK AND THE CURRENCY.--The funding of the debt (proposed by Hamilton) was the first great financial measure adopted by Congress. [6] The second (1791) was the charter of the Bank of the United States with power to establish branches in the states and to issue bank notes to be used as money. The third (1792) was the law providing for a national coinage and authorizing the establishment of a United States mint for making the coin. [7] It was ordered that whoever would bring gold or silver to the mint should receive for it the same weight of coins. This was free coinage of gold and silver, and made our standard of money bimetallic, or of two metals; for a debtor could choose which kind of money he would pay. [Illustration: HAMILTON'S TOMB, NEW YORK CITY.] THE REVENUE LAWS.--Other financial measures of Washington's first term were the tariff law, which levied duties on imported goods, wares, and merchandise, the excise or whisky tax, and the law fixing rates of postage on letters. [8] THE RISE OF PARTIES.--As to the justice and wisdom of the acts of Congress the people were divided in their opinions. Those who approved and supported the administration were called Federalists, and had for leaders Washington, John Adams, Hamilton, Robert Morris, John Jay, and Rufus King; those who opposed the administration were the Anti-Federalists, or Republicans, whose great leaders were Jefferson, Madison, Monroe, Gerry, Gallatin, and Randolph. The Republicans had opposed the funding and assumption measures, the national bank, and the excise. They complained that the national debt was too large, that the salaries of the President, Congressmen, and officials were too high, and that the taxes were too heavy; and they accused the Federalists of a fondness for monarchy and aristocracy. Washington opened each session of Congress with a speech just as the king opened Parliament, and each branch of Congress presented an answer just as the Lords and Commons did to the king. Nobody could go to the President's reception without a card of invitation. The judges of the Supreme Court wore gowns as did English judges. The Senate held its daily sessions in secret, and shut out reporters and the people. All this the Anti- Federalists held to be unrepublican. [Illustration: LADY WASHINGTON'S RECEPTION. From an old print.] THE ELECTION OF 1792.--When the time came, in 1792, to elect a successor to Washington, there were thus two political parties. Both parties supported Washington for President; but the Republicans tried hard, though in vain, to defeat Adams for Vice President.