Beginning with a look at the U. S. Census of 1850 (Madison County, MS) and continuing with a Google.com search, I quickly found a wealth of information about the Balfour family. Links to some of these results are posted here today. A special thanks goes to Bill Hays for kindly sharing some of his family's history with me.
The Issaquena Genealogy & History Project: The Balfour Family
Balfour (William L.) Papers, 1841–1863. Located at the Briscoe Center for American History, University of Texas at Austin.