In this song, Philip Schuyler, a Federalist, loses his seat to Aaron Burr, a Democratic-Republican. What's surprising is that Aaron Burr was always someone who waited for opportunities to happen, rather than take a gamble to grab an opportunity. However, when asked by Hamilton about his political beliefs, Aaron responded with "since being [a Democratic-Republican] put me on the up and up again".
Burr also states an important fact: while Hamilton is adored by Wall Street and the wealthy elite of New York, people living upstate (more rural areas) think Hamilton is corrupt, as he prefers to help the rich over the poor. This is also reflected in the Federalist party (led by Hamilton), who generally favors the wealthy elite, while the Democratic-Republicans favors the poorer citizens.
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