In clear and forceful language Floyd reasserted the state sovereignty theory of government, as guaranteed by the 'Compact or Constitution,' holding the Federal Government to be merely the 'Agent of the States' entrusted only with such powers as were originally intended to operate 'externally' and 'upon nations foreign to those composing the Confederacy.' He called attention to the disregard with which 'an unrestrained majority' had received the memorials and protests of some of the 'sovereign states,' justifying their acts by precedent and expediency and thus melting away 'the solder of the Federal chain;' also to the fact that it was then 'strongly insinuated' that the states could not 'interpose to arrest an unconstitutional measure.' Such a course, he was certain, could result only in nullifying the federal constitution and in a complete failure in our experiment in government.