The Federalist Party was destroyed by the rise of a Democrat party willing to do or say anything to get elected. Federalists assumed that leading a spectacularly successful government and bringing the new nation up to a par with those which had existed for hundreds of years would assure its continuance in power. They were not willing to use dirty tricks and election fraud to win elections (like a certain party today.)
But they did not count on the genius of Jefferson and his manipulation of the morons (and slavers) of the nation. Then after knocking Adams out the Democrat Vice President assassinated Hamilton, the greatest force within Federalism. This assured the destruction of federalism even though Jefferson did not disturb the financial system it established against his will. A system which was remarkable in its success and which laid the financial framework for the growth of a dazzling new empire. Thanks Alexander.
As it was, there was a convention at Hartford some years later for the ex-Federalists to discuss secession so that they could cozy up to the Brits and sell out the nation for a renewed river of money, money, money in trade with the Brits. This while we were fighting the War of 1812. Andrew Jackson with the able assistance of Pierre Lafitte dispatched the last Brit army at New Orleans and sent Brit General Pakenham's thoroughly ventilated corpse back to his widow in England, stuffed into a whiskey barrel to preserve the remains. There was never another Brit invasion of our nation.
The Federalist Party was destroyed by its own leaders' manifest greed, xenophobia, Alien and Sedition Acts, and a general attitude that the nation should be run by the upper crust who owned much of it. This was understandably never very popular with the rank and file of the public who did not own much of it. God so loved poorer people that He made a great many more of them than he did of the self-centered aristocracy. John Adams, certainly an honorable fellow in his own right, was victimized by the extreme Hamiltonian wing of the Federalists and was unable to gain re-election after the way they discredited the Federalists permanently. His relationship with Hamilton was, understandably, not much warmer than Jefferson's.
There is always a dream among the comfortable, however, that, if they could just control the government and, through the government, all those unruly and disruptive folks who wanted a share of governance at the expense of the natural self-imagined nobility of the aristocrats, they could thrive and prosper and to hell with the wogs. Such modest members of the public (the wogs) actually dared imagine that they had lives to live for their own purposes and not merely to convenience the guys in the mansion on the hill. Well, did you ever....???
After the demise of the Federalist Party, its forces re-entered politics as Whigs dedicated to (what else?) money, money, money. They called for extraconstitutional "internal improvements" federally financed to line their pockets with other people's taxed (confiscated) money. You may recall that, as a Whig, Lincoln also made a lot of money as a railroad lawyer, bringing land condemnation actions to facilitate the development of a network of railroads across Illinois. This subordinated the interests of the serfs in their own land to the grand schemes of the business moguls.
It is true that Jefferson did not disturb the financial arrangements established by Hamilton, particularly the national banking schemes. That was left to Andrew Jackson who had the noble privilege of finishing off Mr. Biddle's corrupt bank once and for all. The nation did quite nicely until the Federal Reserve was established through the chicanery of the J. P. Morgans, the Nelson Payne Aldriches and their political friends. Well, as Jefferson was fond of saying: Eternal vigilance is the price of liberty.
Since the Whigs were perpetrating the same policies of comforting the comfortable and afflicting the afflicted, that had destroyed their Federalist predecessors, they shared the fate of their Federalist predecessors and were destroyed. People had, after all experienced the glory that was Jackson.
Hope springs eternal, however, and the same old gang reconstituted itself sneaking around under the banner of abolitionism with financial malice aforethought, as the Republican Party (in its early days). The GOP has survived where its predecessors had failed and the Democrat Party evolved into the Demonrat Party of communist and social issue revolutionary enemies of our nation and its people (acid, amnesty, abortion, whatever perversions young Muffy and Skipper and their airhead polo club pals may adopt, disarmament, national cowardice, etc., in other words, the priorities of elitist Obamao and his elitist lapdogs).
The nation needed another Jackson and got one in Ronald Reagan. We await a worthy successor to him (and it won't be Senator Nancyboy). Thanks, Old Hickory. Thanks, Gipper. Thanks, Aaron Burr. In retrospect, the only worthwhile policy of Hamilton was protection of American industry.