The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-06-14

a NenspopeG ~ a. P3ot9&01a DQaty ana Weekly
IN New York and WashingGm Guy.
Such has been the progress OF sectional feeline,
that mutual exchange Of opinion between me
North and the South has become Indispensable 10
quiet the public mind rad store mutual confidence
and good will.
With this view, it is proposed to publish in New
FORK and Washington City, daily aud weekly
Newspaper, IN which the aoiest 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, ..id
candor, and with an earnest desire 10 subJue sec-
uonal prejudice, viii obtain excnswe eircuIallon,
AID exert beneficial influence.
Fart of the plan il to invite, by an olfe.nof pre-
mrums' prize essays on the subjects of British
| hfoohlon, British Commerce, British Finance,
BRUSH Banking, and British Diplomacy, and aso
on the American Tariff, American Commerce,
American Banks, American Currency, and Afn-
can slavery. These questions, it is hoped will
put In requlstom the abiest pens of the whole
country, and give to THE MEDIUM" an interest
aud character which will secure for it a support
commensurate with the expenditure NECESSARILY
incurred.
As the machinery of commerce aud Of credit il
now organized, our Banks and our Currency are
the weaker parts Of the British system, and the
runous effects of the expansions and contractions
of the British Currency caused by overtradlng aud
specu.alions of the British people and British
Bankers, necessarily produce ruinous expansions
and contractlons of our Currency, which enable
British 6nanciers. by the of their credit, with
out an advance of capital, to levy upon enorm~
Gus sums in the shape of profits exchange, in
teres tand commissions lnfllcting at the same time
severe losses by greatly depreciating the value of
our labor and property.
The MEDIUM" will advocate a modification of
the laws regulating mail contracts with Railroad
Companies 40 az to authorize contracts for the
adA IIns I hA nav inf
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-
istIng laws. 1t will further advocate general
system Of free banking, under State laws, on de-
posts 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 az capital, and give
cheap, abundant and staple currency, and ena-
BILE the farmer and the planter to obtain remu
nerating prices at home instead ofbeng compelled
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 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 here tofOre created &C.
"THE MEDIUM" will not be party paper, but re-
publican and independent, treating men, measures
and parties with a searching scusiny, 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 1.-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.