'Regarding the first part of the statement no comment could be made which would not weaken its effect. Taking its principle and its tone together, it is a doctrine which has never been paralleled. Let it circulate throughout Europe, that a member of the United States Senate in 1849, has openly proclaimed that at a recent period the Governor and Legislative Assemblies of his own State deliberately issued fraudulent bonds for five millions of dollars to 'sustain the credit of a rickety bank;' that the bonds in question, having been hypothecated abroad to innocent holders, such holders had not only no claim against the community by whose executive and representatives this act was omitted, but that they are to be taunted for appealing to the verdict of the civilized world, rather than to the judgment of the legal officers of the State by whose functionaries they have been already robbed; and that the ruin of toilworn men, of women, of widows, and of children, and the 'crocodile tears' which that ruin has occasioned, is a subject of jest on the part of those by whom it has been accomplished; and then let it be asked if any foreigner ever penned a libel on the American character equal to that against the people of Mississippi by their own Senator.' To this reply of the London _Times_, which (except in portions of Mississippi) was generally approved throughout the Union, Mr. Jefferson Davis responded in a very long letter, dated from his residence, Brierfield, Mississippi, August 29, 1849, addressed to the editors of the _Mississippian_. He begins as follows: 'The London _Times_ of July 13, 1849, contains an article which most unjustly and unfairly attacks the State of Mississippi and myself, because of a statement I made in refutation of a former calumny against her, which was published in the same paper.' This article of the London _Times_ Mr. Davis denounces as 'a _foreigner's slander_ against the government, the judiciary, and people of Mississippi;' 'very well for the high Tory paper as an attack upon our republican government;' as 'untrue;' 'the hypocritical cant of stockjobbers and _pensioned presses_' 'reckless of reputation;' 'hired advocates of the _innocent_ stock dealers of London 'Change;' 'a calumnious imputation.' These are pleasant epithets which Mr. Jefferson Davis applied to the London _Times_ and the London 'Change. But Mr. Jefferson Davis was very indignant, not only with London, but with all England; for he says, 'With far more propriety might _repudiation_ be charged on the _English Government_, for the reduction of interest on her loans when she consolidated her debts; for the income tax, which compels fundholders to return part of the interest they receive on their evidences of public debt, for the support of the Government which is their debtor.'