My official action, however, was sustained by an almost unanimous public sentiment of Congress, and of the country. Indeed, beyond the limits of the State of Arkansas, and the circle of the repudiators of Mississippi, my course was sustained and approved. Now, then, let us see what was the action of Mr. Jefferson Davis on the question of these Arkansas bonds. On reference to the journals of the House of Representatives, of the Congress of the United States, it appears that Mr. Jefferson Davis took his seat in that body, as one of the members elect from the State of Mississippi, on the 8th of December, 1845. (P. 56.) When the bill was pending for organizing the Smithsonian Institution, and making good for both principal and interest, the sum bequeathed by Mr. Smithson that had been invested by the Government of the United States in these Arkansas State bonds, Mr. Jefferson Davis, on the 29th April, 1846, as appears by the official proceedings of the House, page 749, moved an amendment: 'To add at the end of the section the following'--'_Provided, however_, That if the Governor of the State of Arkansas shall make it appear to the satisfaction of the Attorney-General of the United States, that he has used suitable means to obtain from the Real Estate Bank of the State of Arkansas, payment of the debt due by said Bank to the State of Arkansas, but without success, then, in that case, and until the arrears due by the said Real Estate Bank shall have been received into the Treasury of the State of Arkansas, the said State shall be and is hereby declared to be absolved from the promises on the face of her bonds by which the said State heretofore pledged her faith for the due payment of the principal and interest of said bonds.' Now, then, it will be remembered, that the legality and constitutionality of these Arkansas State bonds never has been disputed. These bonds were issued by the State, under direct authority of law, signed by the Governor, with the broad seal of the State attached, and recognized by the Government of the United States, by the investment of this sacred fund in these obligations. Nay, more, this fund thus received by the State from the Government on these bonds, had been invested, under the law of the State of Arkansas, in a Real Estate Bank, created by that State, and the money loaned to the citizens of the State. That State Bank, however, in 1839, became utterly and notoriously insolvent, and never did or could pay one cent in the dollar on its obligations. And, more especially, never did it pay, after 1839, one single cent of the principal or interest upon these State obligations. Now, then, this institution, in 1846, being absolutely and totally insolvent, its funds having been wasted and squandered without the possibility of recovery, either in whole or in part, Mr. Davis offers this resolution to authorize the State to repudiate its bonds, and that the Government should look only to this insolvent Bank for the