By March 5, 1801, Thomas Jefferson had already taken his oath and delivered his inaugural address, securing his position as the third president of the united states. His election marked the end of the widespread support of the federalist party. Voters in America now expressed a preference for individual freedom and limited national power; a revival of the "spirit of76". Because of his belief that all governments were evil, Jefferson embarked on creating an American society of small independent farmers, ending the need for political organization and societal complexities. He denounced alliances, promised to pay off the national debt, preserve the governments credit and stimulate agriculture. Most importantly, Jefferson promised a "wise and frugal government, which shall restrain men from injuring one another and leave them otherwise free to regulate their own pursuits"(173). However, Jefferson is often criticized for his disapproval of the National Bank and the extent of his loyalty to his strict constructionist viewpoints on the constitution. In accordance with the tenth amendment of the constitution, Jefferson was correct in saying the National bank was unconstitutional; however, his involvement in the Louisiana purchase and Fletcher vs Peck trial prove his inconsistency with his strict constructionist viewpoints. .
According to the tenth amendment of the constitution, Jefferson was correct in his decree that the national bank was unconstitutional. The tenth amendment reserves all powers not delegated to the national government reserved to the states respectively. Jefferson argued that the National Bank was not delegated to the national government and therefore it was the states rights to collect taxes and regulate trade within their own personal bounds. He stated that a national bank was not necessary at the time, and therefor void under the jurisdiction of the constitution.