price controls, but was unsuccessful. That constitution was ultimately rejected by voters. In August 1780, he was elected to the convention for a new Massachusetts Constitution. Populist Governor John Hancock, who supported the failed 1778 Constitution, accused his conservative opponents of being controlled by an "Essex Junto," including Cabot, which soon became a popular invective metonym. In 1788, Cabot was a delegate to the Massachusetts convention to ratify the new United States Constitution, which he strongly supported. Along with Rufus King, Theophilus Parsons, and Fisher Ames, he successfully engineered Massachusetts ratification by persuading Hancock and Samuel Adams to support ratification. In 1789, President George Washington breakfasted with Cabot at the latter's Beverly home when he was in town inspecting the country's first cotton mill and the new Essex Bridge. U.S. Senate 2nd United States Congress (1791–1793) In 1791, midway through the first presidential term of George Washington, Cabot was elected to the U.S. Senate. During his time in the Senate, he was principally concerned with finance and commerce, and was a supporter of his friend Alexander Hamilton's policies as Secretary of the Treasury. During his first Congress, Cabot was a member of the Committee on Appropriations and chair of the Committee on Fisheries. He became a founding member of the new Federalist Party, led by Hamilton and Vice President John Adams. Hamilton frequently consulted with Cabot on matters of revenue, commerce, and manufacturing. Cabot's bill to subsidize fishermen became a major feature of Hamilton's economic program. Throughout the Congress, tensions with the Jeffersonian faction intensified both in the capital of Philadelphia and in the newspapers. Party differences were deepened by the ongoing French Revolution, which drew Jeffersonian support and Federalist revulsion. Cabot himself stood out as an ardent Francophobe, and by extension, an Anglophile. After the Genêt affair, Cabot called for the French ambassador's dismissal and personally persuaded Vice President Adams to urge Washington to remove Genêt. 3rd United States Congress (1793–1795) In his second Congress, Cabot opposed Secretary Jefferson's attempts at establishing favorable trade with France, blocking the election of Jeffersonian Albert Gallatin of Pennsylvania to the Senate. He remained a leader in matters of commerce and finance and helped pass a bill laying the groundwork for a national Navy. In 1793, he was named a director of the First Bank of the United States. Amid rising United States tensions with Great Britain, Cabot joined Senators Rufus King, Oliver