The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-07-15
PROSPECTUS OF "THE mEDIUm,"

A Newspaper TO be published Daily and Weekly
in Ne,o York and Washington City
Such has been the progress of sectional feeling,
that mutual exchange of opinion between the
North and the South has become indispensable to
quiet the public mind and restore mutual confidence
and good will.
With this view, it is proposed publish in New
York and Washington City, daily and weekly
Newspaper, in which the ablest writer's 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 earnest desire to subdue sec
tonal prejudice, will obtain extensive circulation
and exert beneficial influence.
Part Of the plan is to invite, by an offer Of pre-
miums, prize essays on 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 Afri-
can Slavery. These questions, it is hoped will
put in requistion the abest pens of the whole
country, and give to ''THE MEDIUM" an interest
and character which will secure 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
runous effects of the expansions and contractons
of the British Currency, caused by overtrading and
speculations of the British people and British
Bankers, necessarily produce runous expansions
and contractions of our 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, inaicting at the same time
severe losses by greatly depreciating the value of
our labor and property.
"THE MEDIUM" will advocate modification of
fhoI ux lnfyn Dali
Companies, so 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. 1t 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-
tions on deposits Of Railroad securities because
such system would make the large sums in
vested in Railroads available as capital, and give
a cheap, abundant and staple currency, and ena-
bic the farmer and the planter to obtain remu
nerating prices at 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 as will prevent
fraud in the customs, and encourage our own in
dustry, would consolidate the interests Of the
whole country, and abate sectional prejudice by
obterating 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 scutiny, guarding
with jealous vigilance the interest Of the people
Of the United States against the dangerous infu-
ence of British Financiers and Brit0h 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 s.