A temporary wet strength polymer and compositions for paper products, e.g., toilet tissue, is disclosed. The temporary wet strength polymer is the oxidation product of an esterified polyhydroxy polymer, more preferably of an esterified polysaccharide. The esterified polymer compound is formed by reacting the polyhydroxy polymer with a 1,2-disubstituted alkene compound that has at least one carboxylic acid group. The temporary wet strength polymer provides paper products having an initial wet strength that enables use of the product in the moistened condition, along with a suitable wet strength decay rate.