The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-07-27

NsUspspsr TO 6e pubgished DAILY and Week.,
IN Nelc York and Washington Guy.
Such has been the progress OF sectional feeling
that a mutual exchange Of opinion between the
North and the South has become Indispensable TO
quiet the public mind aud restore mutual confidence
and good will.
With this view, it is proposed to publish in New
York and Washington City, daily and weekly
n Newspaper, in which the ablest writers Of both
sections may present the facts and arguments upon
which they rely, in support of the interests and
institutions Of each, under the hope that such
paper, conducted with fairness, moderation, and
candor, and with an earnest desire TO subdue sec
tional prejudice, will obtain extensive circulation,
and exert beneficial influence.
Part of the plan is to invite, by an offer OF pre-
mums, prize essays the subjects of British
Abolition, British Commerce. British Finance,
British Banking, and British Diplomacy, and also
on the American Tariff. American Commerce,
American Banks, American Currency, and AFR
can Slavery. These questions, it is hoped will
put in reqaisition the abest pens Of the whole
country, and give to ''THx MEpiuA" an interest
and character which will secure for 1t support
commensurate with the expenditure necessarily
incurred.
As the machinery of commerce and Of credit is
now organized, our Banks and our Currency are
the weaker parts Of the British system, and the
ruinous effects of the expansions and cOntractions
of the British Currency, caused by overtrading and
speculations Of the British people and British
Bankers, necessarily produce ruinous expansions
and contractions of our Currency, which enable
British hnanciers. by the use Of their credit, with
out an advance of capital, to levy upon us enorn-
GUS sums in the shape of profits on exchange, in
terss land commissions, INJECTING at the same time
severe losses by greatly depreciatng the value Of
our labor and property
THE MEpiuM" will advocate modification Of
the laws regulating mail contracts with Railroad
Companies, SO to authorize contracts for the
perpetual use of Railroads upon the payment of
an amount of five per cent coupon bonds, charge
able on the revenues of the Department, upon
which the interest, at six per cent, would be
equal to the quarterly payments made under ex-
listing laws. It will further advocate a general
system of free banking, under State laws, on de-
posits Of bonds of the federal State govern
ment, and. under proper guarantees and restr'c-
tons, on deposits Of Railroad securities /; because
such system would make the large sums in
vested in Railroads available az capital, and give
cheap, abundant and staple currency, and ena
BILE the farmer and the planter to obtain remu
neratng pricesat home, instead ofbeing compelled
as they now are, to send the products Of their
labor to the British market, to be sold there by
British agents at British prices and because
such a modification of the laws regulating mail
contracts, and such system of currency aided
by such modification Of the tariff az will prevent
fraud ia the customs, and encourage our own in
dustry, would consolidate the interests or the
whole country, and abate sectional prejudice by
obiteratng the lines that had heretofore created it.
"THE MEDIUM" will not be party paper, but re-
publican and independent, treating men, measures
and parties with searching scutny, guarding
with Jealous vigilance the interest Of the people
Of the United States against the dangerous inAu-
ence of British Financiers and British Diplomacy.
TERMS.
The price Of "THE MEDIUM" will be-
Two Cents per copy for the Daily, and Two Dol
lars per annum for the Weekly, with reasonable
deduction to the Trade, to Clubs, and to Agents
March 8.