Washington, when Mr. Jefferson Davis published, over his signature, as a
Senator of the United States from Mississippi, his well-known second
repudiation letter, dated at his _residence_, 'Brierfield, Miss.,'
August 29, 1849. This letter was addressed to the editors of the
_Mississippian_, a newspaper published at Jackson, Mississippi, and was
received by me in due course of mail. This letter extended over several
columns, and was an elaborate defence of the repudiation of Mississippi.
This letter also was generally republished throughout the United States.
These views of Mr. Jefferson Davis attracted my most earnest attention,
because, after a brief interval, he was one of my successors in the
Senate of the United States, from Mississippi. I had always earnestly
opposed the doctrine of repudiation in Mississippi, and the Legislature
of 1840-'41, by which I was re-elected, passed resolutions by
overwhelming majorities (hereafter quoted), denouncing the repudiation
either of the Union Bank, or Planters' Bank bonds.

At the period of the conversations before referred to, late in April or
early in May last, I was, on this recital of the facts, strongly urged
to make them known in Europe, to which my consent was given.

After some investigation, however, the necessary documents fully to
elucidate the whole subject could not be obtained here. It was
necessary, therefore, to write home and procure them. This has been
done, and I now proceed to a narrative of these transactions from the
authentic historical public documents.

The first letter of Mr. Jefferson Davis before referred to, of the 25th
of May, 1849, was published by him as a Senator of the United States
from Mississippi, over his signature, in the _Union_, a newspaper
published at Washington City. That letter is in these words:

'DAILY UNION, WASHINGTON CITY, _May 25th, 1849_.

'_Statement furnished by Jefferson Davis,
Esq., Senator of the United States._

'The State of Mississippi has no other question with
bondholders than that of debt or no debt. When the United
States Bank of Pennsylvania purchased what are known as the
Union Bank bonds, it was within the power of any stock dealer
to learn that they had been issued in disregard of the
Constitution of the State whose faith they assumed to pledge.
By the Constitution and laws of Mississippi, any creditor of
the State may bring suit against the State, a