The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-06-16


IA Nev York and Washington Civ.
Such has been the progress of sectional feeling,
That mutual exchanges 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, il is proposed to publish in New
YORK and Washington City, daily and weekly
Newspaper, Ia 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
uonal prejudice, will obtain extensive circulation,
ana exert beneficial influence.
rart OF the plan 10 to invite, by an offer Of pre-
ut',uuisi prize essays on the subjects of British
"a noltion, British Commerce, British Finance
nt'lsh Banking, and British Diplomacy, and also
on me American Tariff, American Commerce.
American Banks, American Currency. and Arr,
can slavery. These questions, il is hoped will
put IN requistion the abIest pens of the whole
country, and give to "TnE MEDIUM" an interest
and character which will secure for il a support
commensurate with the expenditure necessarily
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 overtradlng and
specuatons of the British people and British
and contractions of our Currency, which enable
British hnanciers, 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 at the 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, 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-
isung laws. Ii 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 reslrc-
tons, on deposits Of Railroad securities; because
such system would make the large sums i'm
vested IN Railroads available as capital, and give
cheap, abundant and staple currency, and ena-
BILE the farmer and the planter to obtain remu
nerating prlcesat home, instead ofbeng compaled
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 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
dusry, would consolidate the interests Of the
whole country, and abate sectional prejudice by
obteratng the lines that had here tofore created it.
"THE MEDIUM will not be 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 inhu-
ence of British Financiers and British Diplomacy.
TERMS.
The price Of "THE MEDIUM" will be-
Two Gents 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.