"economically liberal and socially conservative" was used to describe the type of economic and social balance sought by this party. Talking about economy, the republican party favors limited government, the free market system, and a fertile capitalistic environment. Socially the party rejects the liberal opinions of it's contrasting party.
This party was formed by a group of antislavery activists, ex- Free Soilers, and modernizers. The republican party was formed in response to the Missouri Compromise, which would have allowed for further northern expansion of slavery, something that was seen as a great and terrible evil.They opposed slavery and the plantation system and pushed for a system of labor and business that would allow men to grow and capitalize small businesses. This party rose up from the end of the slavery system in the United States and has continued to grow and change into what we now consider modern republicanism.
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