The Federalist Party was a conservative and nationalist American political party and the first political party in the United States. Under Alexander Hamilton, it dominated the national government from 1789 to 1801. Defeated by the Democratic-Republican Party in 1800, it became a minority party while keeping its stronghold in New England and made a brief resurgence by opposing the War of 1812. It then collapsed with its last presidential candidate in 1816, after the Federalists were associated with the disloyalty and parochialism of the Hartford Convention. Remnants lasted for a few years afterwards. The party appealed to businesses and to conservatives who favored banks, national over state government, manufacturing, an army and navy, and in world affairs preferred Great Britain and strongly opposed the French Revolution and Napoleonic wars. The party favored centralization, federalism, modernization, and industrialization.