The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-05-13

a Nsvspsys, % b published Dsil; snS Weekly

a Newspaper 10 b Published Dell; and Weekly
an New York and Wa1AingaO~ Gu.
Such has been the progress IL. SECTIONAL feeling
mat mutual exchange Of opinion between t6e
NORTH and the South has become Indispensable 4,
quiet the public mind and restore mutual confidence
With tins view, il is proposed 10 publish in New
iorR ana washington City, q daily and weekly
~ newspaper, IN which the abIest writer's Of both
sections may present the facts and arguments anon
WHICH they rely, IN support Of the interests and
institutions or each, under the hope that such a
rrapJ, Conducted win fairness, moderation, and
eahuor, and with an earnest desire TO subdue sec-
'iohai prejudice, viii obtain extensive circulation.
anu exert beneficial influence
at. OF the plan is TO invite, by an offer Of pre-
Mhnii,, prize essays ON the subjects of British
ns','iu British Commences, British Finance
pri'ish Banking, and British Diplomacy, and also
on me American Tariff, American Commerce
n"'.s,oan Dahks, American Currency, and Afri-
can Slavery. These questions, II IL hoped will
put IN requisition the ablest pens OF the whole
country ana give to THE MEDIuM' an interest
and character which will secure for il = sunnort
commensurate with the expenditure necs.sarIv
incurred.
AS the machinery Of commerce and of credit il
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 overtrnding and
Bankers, necessarily produce ruinous expansions
and contractons of oar Currency, which enable
British fnanciers by the use Of their credit with
out an advance of capital, to levy upon us enorm-
Gus sums in the shape Of profits on exchange, in
teres tand commissions, infictng at the same time
severe losses by greatly depreciatng the value Of
our labor and property
The MEDIUM" will advocate modification Of
the laws regulating mail contracts with Railroad
Companies, so az 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. IL will further advocate general
system of free banking, under State laws, on de-
posits Of bonds of the federal or State govern
ment, and, under proper guarantees and restric-
tons, on deposits Of Railroad securities because
such system would make the large sums in
vested in Railroads available as capital, and give
u cheap, abundant and staple currency, and ena-
BILE the farmer and the planter to obtain remu-
neratlng prices at home, instead ofbeing compelled,
as they now are, to send the products Of their
labor to the British market, to he sold there by
British agents at British prices and because
such modification Of the laws regulating mail
contracts, and such system of currency aided
by such modification of the tariff will prevent
fraud in the customs, and encourage our own in
dustry, would consolidate the interests Of the
whole country, and nbate sectional prejudice by
obterating the lines that had here tofore created il.
THE MEDIUM" will not be a party paper, but
publican and independent, treating men, measures
and parties with searching scutiny, 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 1.-THE MEDIUM" will be-
Two Cents per copy for the Daily, and Two Dol
| L. l.
deduction to the Trade, to Clubs, and to Agents.
March 8.