Indeed, I have never at any time
before, during, or since those events, held any civil office under the
State government, and neither had nor could have had any part in shaping
the policy of the State. When brought out as a candidate for office, my
nomination was opposed by that section of my party which advocated
"repudiation," on account of my opinions in favor of the payment of the
bonds.
As a private citizen, it may be stated that I held that the question of
the validity of the bonds should be decided by the courts. The
Constitution of Mississippi authorized suit to be brought against the
State in such cases in her own courts, and this I regarded as the proper
course to be pursued by the bondholders, holding that the State would be
bound by the judicial decision, if it should sustain the validity of the
claim. This course, however, was not adopted until long afterward, when
the question had become complicated with political issues, which
rendered the effort to obtain a settlement entirely nugatory.
When I was a member of the Senate of the United States, my official
influence was exerted to promote the objects of a citizen of
Mississippi, who, with quasi-credentials from the United States
Secretary of State, Mr. Buchanan, went to London to propose to the
bondholders an arrangement by which the claim, or the greater portion of
it, might be paid by private subscription, on consideration of the
cancellation of the bonds.
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