Republican Party, byname Grand Old Party (GOP), in the United States, one of the two major political parties, the other being the Democratic Party. During the 19th century the Republican Party stood against the extension of slavery to the country’s new territories and, ultimately, for slavery’s complete abolition. During the 20th and 21st centuries the party came to be associated with laissez-faire capitalism, low taxes, and conservative social policies. The party acquired the acronym GOP, widely understood as “Grand Old Party,” in the 1870s. The party’s official logo, the elephant, is derived from a cartoon by Thomas Nast and also dates from the 1870s.