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The radical faction, 1835-1837, of the Democratic party, properly of New York, though the name was afterward made national. During the Federalist control of the Government, the method of granting bank charters and controlling banks was charged by the opposing faction with favoritism and corruption. Upon their gaining control, things did not, in the opinion of many, improve; and in 1835 there was formed in New York the "Equal Rights party," opposed to special, privileges in granting bank charters to corporations. At a meeting in Tammany Hall, October 29, 1835, the regular Tammany Democrats tried to gain control. Finding themselves outnumbered, they turned out the lights and retired. The Equal Rights men produced candles and "loco-foco" matches, and continued the meeting. Hence the name. This party was beaten at the elections, but nevertheless exercised considerable influence.