Which quotation from the declaration of independence indicates that the founding fathers rejected the idea of having a monarchy in the newly independent colonies?

I think this would be the following quote:
"We hold these truths to be self-evident, that all men are created equal.” - this would mean that no man can be above other men, no man can rule over other men.

They also mention in particular that they see the current ruler unfit to rule over the Americans. 

The statistics for the eastern war are grim. more than three-million men died in the fighting, more than nine-million men were wounded, and every major country which participated lost its form of government.