The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-05-12

A Nsvspsper @ be puSli.ssd Dely and Week,

A Newspaper to be pu1lisled Dsily snd Weekly
IN Nsu York and Woskiaga0n CNy.
Such has been the progress Of sectional feeling,
that mutual exchange Of opinion between the
North and the South has become indispensable 70
quiet the public mind end restore mutual confidence
and good will.
With this view, it is proposed to publish in New
York and Washington City, daily and weekly
ewspaper, in which the ablest writers Of both
sections may present the facts aud arguments upon
winch they rely, IN support Of the interests and
institutions OF each, under the hope that such q
paper, conducted with fairness, moderation, and
eandor' and with an earnest desire to subdue Sec
uona' prejudice, will obtain extensive circulation
anu exert beneficial influence.
rar' OF the plan is TO invite, by offer Of pre-
NUNS prize essays on the subjects Of British
hpoition' BRITISH Commerce, British Finance,
on the American Tariff, American Commerce.
American Banks, American Currency and Afr
can Slavery. These questions, it il hoped will
put in requisition the ablest pens Of the whole
country, and give to "THE MED,um" an interest
and character which will for it 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 controctions
of the British Currency, caused by overtradng and
Bankers, necessarily produce ruinous expansions
and contractons of our Currency, which enable
British fnanciers. by the 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, inhicting the same time
severe losses by greatly depreciating the value of
our labor and property
"THE MEDIUM" will advocate modification Of
| the laws regulating mail contracts with Railroad
Companies, 20 as 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 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 restric-
tons, on deposits Of Railroad securities ; because
such a system would make the large sums in
vested in Railroads available capital, and give
cheap, abundant and staple currency, and ena-
Bile the farmer and the planter to obtain remu-
neratng prices at home, instead fbeing 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
faud in the customs, and encourage our own in
dustry would consolidate the interests Of the
whole country, and abate sectional prejudice by
oblterating the lines that had here ofore created it.
"TnE MEDIUM" will mol be a party paper, but re-
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 infu-
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.