Foundation From December 11–12, 1867 a group of former Democrats, former Whigs, and moderate Republicans, led by
Alexander Hugh Holmes Stuart held a convention in
Richmond, Virginia.
Raleigh T. Daniel, the party's first chairman and a former Whig, led the organization of the party throughout the state. Alexander H. H. Stuart would later lead the
Committee of Nine to negotiate a compromise with President Ulysses S. Grant and leading members of Congress. The compromise called for a separate vote on former Confederate disfranchisement at the time of the referendum.
Rise The party won majorities in both houses of the
Virginia General Assembly in the 1869 elections and endorsed many moderate Republicans who had run against
Radical Republicans. However, despite their opposition to the radical Republicans the party was divided on the issue of black suffrage although most were in agreement on economic issues. Despite the party's divided opinion on black suffrage thirty blacks were elected to assembly and many of them had their views in line with the Conservatives.
Demise A popular bill that would increase the amount of revenue available to public schools was introduced and passed by the assembly in 1878, but was vetoed by Governor
Frederick W. M. Holliday. The Readjusters would break away from the Conservative party and formed their own party and the remaining Conservative Funders lost their majorities in both houses in the same year to the Readjusters. The Readjusters would later win the governorship in 1881 causing the few Conservative bills passed by the assembly to be vetoed by
William E. Cameron. In 1883 the party and most of its members merged with the Democratic party. ==Criticism==