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After the establishment of political parties in America, neither party wanted to share the executive office with the opposing party. They would run a presidential and vice presidential candidate (as they do now). As a result, when the electoral college voted, they cast their two votes for the two people. According to the original rules, this meant that both the intended President and the intended Vice President had the same number of votes for being president. If this had been continued, every Presidential election would have had to be resolved by Congress. To prevent this, the 12th Amendment was passed which changed the rules such that the electoral college votes separately for President and Vice President.

A side issue of the original rules is that the executive office would not have worked well with opposing parties sharing the duties. With the vice president succeeding the President in death, it raised the possibility that the elected government could be effectively overthrown and handed over to the Vice President's (of the vice president) simply by someone assassinating the President.

http:/en.wikipedia.org/wiki/Twelfth_Amendment_to_the_United_States_Constitution#Electoral_College_before_the_Twelfth_Amendment

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Q: Why dont the presidential nominees have the second place presidential nominees be their vice president?
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