Jefferson Davis, of Mississippi, an old-time Democrat, was elected President of the Southern Confederacy, and Alexander H. Stephens, a prominent Whig of Georgia, Vice-President. Davis was born in Kentucky in 1808, and was a graduate of West Point. He was a Congressman on the outbreak of the Mexican War, resigned his seat, entered the army, and distinguished himself, rising to the rank of colonel. He was Secretary of War in President Pierce's cabinet, and Senator from Mississippi on the accession of President Buchanan,--a position which he held until the secession of his State. He thus had had considerable military and political experience. He was a man of great ability, but was proud, reserved, and cold, "a Democrat by party name, an autocrat in feeling and sentiment,--a type of the highest Southern culture, and exclusive Southern caste." To his friends--and they were many, in spite of his reserve--there was a peculiar charm in his social intercourse; he was beloved in his family, and his private life was irreproachable. He selected an able cabinet, among whom were Walker of Alabama, Toombs of Georgia, and Benjamin of Louisiana. The Provisional Congress authorized a regular army of ten thousand men, one hundred thousand volunteers, and a loan of fifteen millions of dollars. But actual hostilities had not as yet commenced. The Confederates, during the close of Buchanan's administration, were not without hopes of a peaceful settlement and recognition of secession, and several conferences had taken place,--one overture being made even to the new administration, but of course in vain.