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

IN NeU Yak ~ WalA&AktDn Cvy.
Such has teen the progress o. ssetional feeling,
that mutual exchange Of opinion between t6s
North and the South has heooips indispensable 70
quiet the public mind and restore mutual confidence
and good will.
with tins view, it is proposed 70 publsh in New
FORK and Washington City, daily and weekly
ewspaper, IN which the abest 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, nnoderation, ana
cahdor, and with an earnest desire to subdue sec
uona prejudice, will obtain extensive circulation
ana exert beneficial influence.
tart OF the plan is to invite, by offer Of pre-
NUNS prize essays on the subjects of British
Abolition, British Commerce. BRUSH F,nancs.
pi'ush banking, and British Diplomacy, and also
on 'he American Tariff, American Commerce.
american banks, American Currency, and Afri-
can slavery. These questions, it is hoped will
put VI 'equ'Si,oh the ablest pens of the whole
country, and give to "THE MEDIUM" an interest
and character which will secure for il a sunport
commensurate with the expenditure necsssariIv
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
runous effects of the expansions and contractions
OF the British Currency, caused by oveftrading and
specuatlons of the British people and British
Bankers, necessarily produce ruirous' expansions
and contractions of our Currency, which enable
British inanciers. 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
eres tand commissions, inficting 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, 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. IL will fur Their 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 abroad securities because
such u system would make the large sums in
vested in Railroads available capital, and give
u cheap, abundant and staple currency, and ena-
BILE the farmer and the planter to obtain remu-
neratng 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 aa 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
obterang the lines that had here tofore 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 Financers 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 Cuba, and to Agents.
March g.