II E STATE U E P I III, U V . Tjs Str jjjU of to-day is not altogether for wuay, l 11 ior m Tast iuiure aiso. EUGENE CITY, FEBRUARY 28, 1863. CLHHENCY. Tiie greatest difliculty in the way of prosecut Tig the war against the rebellion to a successful terni'mathm, seems to be the want of a suitable currency with which to meet tho vast expellees of maintaining a great army in the field. Money is the "sinews of war," is king of commerce and t nil nations, and is more powerful than any monarch, not even excepting "king cotton." To a great extent, it shapes- tho policy and limits the power of tho rulers and administrators of all governments, both monarchul and republican. None are so great that they dure defy its power, unr so poor that they may escape, its influence. It is tho great fulcrum of society ; the endless chain which encircles all men and all interests. Take anything else and men will disagree some will oppose und others will advocate and par ties will spring up. But gold and silver money rules supreme. It has no opponents in any civilized country. Its-sway is universally act nowledged, and It is accepted alike by men of all parties and creeds. Hence it is more potent than any political doctrine that, can be presented for the consideration of men. Whoever attempts to set it aside or disturb it in any way, except by a substitute redeemable in this universal curren cy on demand, is sure to encounter a storm of oppositiou which nothing else could possibly call forth. When the rabellion broke out Congress had to meet this great question of currency, and do vise a plan to- raise funds to carry on tho war. From the sale of public lands, and from duties on imports, the nation hud derived a revenue amply sufficient to meet all the expenses of the civil government, so that Congress had never been called upon before, in a similar manner, to meet this most difficult of all questions. They had not the experience of former trials to quido them on that subject, as on most others, but had to launch forth into a new and untried field. Something must be douo and that quickly. So Treasury Notes were issued, and, in order to make them answer the purpose of gold as nearly as possible, they were declared a legal tender for all debts except duties on imports and inter est on tho public debt. It has since been con tended by able financiers that Congress made a blunder, in making these notes a legal tender, and at the same time allowing them to be shaved, or bought for less than their par value. They say that so long os men are allowed to buy up the notes at GO to 1S cents on the dollar, that depreciates their value, which this legal tender provision was intended to guard ngainst, und renders it of no avail, except to enable one man to take ndvautngo of another thus allowing a premium to rascality, and making some men rich nt tho expense of others. Do this as it may, we take it for granted that Congress did tho best they could under the circumstances, and whether or not they could do better now with tho exper ience of tho past before their eyes, if they had the work to do over, is not a question with which we have to deal, but we have to deal with the result of what they did enact. Wo can only hike things as wo find them, and should make the best of ihem without lamenting over what wc cannot change. 'We find that Treasury Notes wero issued ; that they were sustained and upheld very gener ally by the people and press of the loyal States; and yet they nre now discounted from ."0 to 35 percent. This is a very sad state of affairs and is greatly to be deplored by all true patriots, but it is nevertheless a fact, and no man in this na tion has the power to change it. It is charged that secessionists, assisted by bankers, broktrs and speculators, of Union proclivities, but whose patriotism was not equal to their avarice, are responsible for this sad state of uilairs. In a great measure this is undoubtedly true, but it does not relieve us from tho unpleasant result of their selfish actions to know that they did the mischief. The f.ict still exists, that "greenbacks" are in circulation, and are generally passing nt a heavy discount. We nre obliged to accept things as they aro, nnd not as we would like to have them. Then tho only course left to the people, and all that they can do under the circumstance, is to freely receive and pay out theso notes at their highest current rates, which will sustain the credit of the Government by preventing its cur rency form depreciating any more, and will protect themselves from fraud and speculation. Taking them for more than their current value ennnot possibly ai I the Government, for the rich brokers ran and will buy them at a discount so long as there is no penalty attached to "shav ing," and that is what fixes their value in the great commercial world. For a few people on this coast to attempt to raise tlw credit of the Government by losing one-third of whatever capital they employ in carrying oi their bus iness, at nearly every turn they n.ako in trade, as must be the case w here a few take the notes st par and tho majority will not, would be the extreme of folly, and would only result in trans ferring' a largs portion of their wealth into the pockets of speculators, w ithout one dollar of it ever reaching or benefiting the Government. The Government pays lor every gold dollar's worth of supplies which it uses from a dollar and a quarter to a ilol'ar and a half in greenback', and if these contractors, w ho get the notes from Government virtua'ly at a heavy discount, can pass them otT nt par to those with whom they deal, it is evident that they make the discount which the Government has paid, the people pay ing it under the impression that it goes to sustain the cause of the Union. This is not the case with soldiers and Federal officers, Tliey canirot raise the price of their services as the paper depreci ates, and it works great hardship to them. But the amount thus paid out is but a fraction of the amount put in circulation, and that received by the soldiers and officers in the army, is paid out by them mi the Atlantic States, tit a discount, or paid out at par, where gold is f alsing at a premium, which is the same thing. So it is all "shaved" before it reaches us, except what is paid to Federal oflicers in this country. In view of these facts, we think that common sense, as well as justice between man and man, requires that a uniform standard should be adopted, cor responding with thhe higlicst current rates, at which the notes should be circulated freely in all business transactions und in the payment of debts. LOCAL AND MISCELLANEOUS ITEMS. The 21rnes says that Win, II Toluien, alias Fat Jack, a noted highwayman, and a man named Ncselroad, were shot in tho tatter's cabin, on Sand Creek, near Florence City, on the 23d of January. Jack had formerly been ordered to leave Florence, nnd had obeyed the order, but returned on the 23d. He was soon advised to leave und accordingly went over to Sand Creek and asked leave to lemain in the said cabin nil night, which was granted on condition that he would leave early in the morning. While there, a party came outside and asked if a stranger was in the cabin. On being told that there was, they commenced firing into the cabin, two of the shots taking effect in killing the above named persons. The miner was an estimable citizen. The assailants were persons w hose lives Jack had threatened. The Mountaineer of the 20th inst., snys, the snow is fast melting, and in a day or two the hills in the ne:gliborhood of tho Dalles will be efToetutally shorn of their white caps. The tem perature is mild and genial, nnd wo have every reason to believe that we have seen the last of winter. A Mr. Jones of Lebanon, Linn county, was found dead on an island in tho Santiam river, near Lebanon, on I he 17th inst. lie had gone on to the island to drive off some cattle, fearing a rise in the river, and it was supposed that he died from disease of the heart. The Timet says tho stcanfrr Colonel Wright started out form Deschutes on the 10th inst., for Wullula, but succeeded in going only six miles. She was compelled to return on ac count of tho river being jammed w ith ice. For tho year 1802, the number of ma rine disasters in the California and Pacific coast trade, amount to 1 12 ; of which 41 were total losses, nnd 71 partial. The values were $0,518- 109 55. The Mountaineer snys that Maj. Lug enbeel, of the Ninth Infantry, Regulars, is to be appointed Colonel of the Oregon Cavalry Regi ment. Charles White has resigned his office as She riff of Wasco county, a position w hich he had held for threo years, to the general satisfac tion of the people of that county. The steamer Ranger is to be rebuilt at Steilacoom, Washington Territory, und will be used in bringing down produce from the rivers that run into Puget Sound. Nemiah Northup, ono of the editors of tho Walla Walla Statesman, and member of the W.T. Legislature, died at Portland on the ISth inst., of consumption. The Slaesman says that Mr. Ilentherly of this county, recently sold in the Cariboo mines, 100 head of beef cuttle at $30 per head, nnd 300 sheep at $1 a head. Horses are selling nt from $50 to $75, nnd mules nt from $75 to $125. A correspondent writing to tho Orega nian frtm the Colville mines, under date of the 7th of January, says that times nre very dull at that place. If it w ere not fi r the military trade there would be absolutely nothing. Sugar was selling at 50 cents per pound ; coffee, 00 ; llour; 10 ; beef, 20 J bacon, 00, and other things in proportion. The capital stock for erecting a woolen factcry, at Oregon City, has over ha'f been sub scribed. Sixty thousand dollars is required. Mr. Eph. Day and nine companions went Op on the Julia, yesterday morning. They propose to go to the John Day mines over the snow, and to that end provided themselves with Norwegian snow shoes on which to cross the mountains. The trip is dillicult but not dange rous to those who know how to make it. Ore gonian, tk, V portion of the machinery for the Linn County Woolen Factory, has arrived. An extensive nnd valuable salt mine has been discovered, recently, about 00 miles from Union ville, Nevada Teintory, The Time$ of the 19.h inst., says that on the ItUli the tides wero higher nt Astoria than they had been for live years past. The wind blew a perfect hurricane, and great fears were entertained that some of the buildings in the town would be blown over. The steamship Mimes Taylor has Wen repaired, and is again advertised to sail from San Francisco, on the lllhof March, for San Juan Del Sur, to conned with the Illinois at Gnytown lor New York. 17. 8. INTERNAL llEVE.M'E We publish below, the recent decisions rf Commissioner Coulwell relative to the stamp du ties on legal instruments required by Act of Congress in the internal revenue law. By re. cent Act of Congress the time when these stamps shall be affixed to instruments of a public charac ter to niak tliem valid in law, upon tli-is coast hns been delayed until tho first day tf March next. This was done because it was found nil possible to print and send to the coast a sufficient number to supply the country ; and bad the law not been so changed, a great hardship and much in convenience, if not injury, would have resulted to ninny of our citizens. There is now no doubt that a sufficient number of stamps can und will be sunt out to supply all who may have occasion to use them before tho time arrives requiring their use. The following copy of decisions, which serve as instructions, have been sent us for publication by Ir. Thomas Frazer, U. S. Assessor, who also informs us that the requirements therein contained, as also all other duties in regard to assessing and collection of the U. S. revenue, will be strictly enforced in every particular. The first of these decisions, under date of October 1802, is in regard to stamps upon instruments, and the second under date of November, 1SG2, is concerning the affixing nnd cancelling of excise stamps, etc. They sufficient ly explain themselves : Office ok Internal Revenue, ) October, 1802. ) DECISION IN RF.U4RD TO T AMI'S UPON IS5TRI MKNTS, In stamping promissory not or other instru inents requiring stamps, under the provisions of the Excise Law, two or more of a smaller de nomination may be used in numbers sufficient to amount to tho sum of tho stamp required : provided, that they nre of the kind denominated for the kind of instrument to which the stamps are applied. PERT! FICATKS. A stamp will be required upon every certifi cate which has, or may have, u legal value in any court of law or equity. Certificates, warrants, orders, and drafts, by one State officer upon another, for the purpose of carrying on the Internal business of tho Gov ernment, are not subject to a stamp tax. The same rule applies to the certificates, orders etc., of county, city and town officers. Messages transmitted by telegraph and rail ri ad companies over their own wires, on their own business, for w hich they receive no pay, are not taxable. DECISION CUNTKItNINS TIIK AFFIXING AND CANCF.LI.INQ OF KXCUK STAUl'S OS IMICUM KSTS, KTC. Sec. 05, pi ovides i " That if any person or persons shall make, sign or issue, or cause to be made, signed or issued, any iustrumei t, docu ment or paper, of any kind or description w hat soever, without the same being duly stamped for denoting the duty imposed thereon, or with out having thereupon an adhesive stamp to denote the said duty, such person or persons shall incur a penalty of $50: and such instrument, docu mcnt, or paper, shall be deemed invalid and of no effect." It seems to me perfectly clear, that by the provisions of Sec. 05, the person who makes, signs and issues the instrument, is the only per son. who is authorized to affix the stamp required by law ; and the person who makes, signs and issues, etc., without affixing the stamp, incurs tho penalty as aforesaid, and is liable to prose cution therefor, and the instrument or document is invalid in consequence of such neglect. Sec. 1)9, provides: "That the person using or affixing the stamp, shall write thereupon the inilialsof his name, date, etc." Other portions of the law imposes penalties on persons who receive documents or articles sub ject to stamp duty from tho person who makes. signs and issues tliem, without btlug duly stamped, etc. 1 am therefore of the opinion that a faithful compliance with the requirements of the pro visions of the excise law demands : First x That all papers subject to stamp tnx, shall have the stamp affixed before the same is issued. Second: That the stamp so affixed must be cancelled in the manner prescribed, by the party making, signing, or issuing (in other words, ex ecuting,) the instrument, document, or paper. Hence, the receiving of an unstamped paper is a violation of the law. The attaching and can celling of a stamp on a document so received, is also unlawful, us the cancellation of a stamp on a paper (otherwise lawfully issued,) by other than the party issuing the paper on which the stamp is allixed, is equally improper. The only exception that exists in the law to the above ruling, is in the case of a bill of ex change, or order for tho payment of any sum of money drawn, or purporting to be drawn, in any foreign country, but payable in the United State-, in w hich case the acceptor, or acceptors, shall, before paying or accepting the same, place there upon a stamp, indicating the duty upon the same, as provided by See. 101, of the excise law. Gko. S. Boltwkll, Commissioner Internal Revenue Tim Neoro W eddish. The overseer of the Eugene Jieriew is very witty about the negro, wedding at Salem, and makes fun id the idea of a white man having any regard for the feelings of a poor mulatto girl. We do not expect over seers, either here or at the South to regard' the feelings of a mulatto girl. It can s. a'cely be ex peeled that an overeer, whoso special business it is to lie up mulatto girls and lash them, is influenced by any sentiment of kindness to ne groes or mulattoes ; but we know that thousands of Southern people who are not overseers and who own slaves, do have a greet respect for the feelings of negroes and m ilattoes, and would hardly tolerate an overseer like the one of the Htritw in their kitchens. We are led to make these remarks from the conduct of the overseer of our Joe Une cotemporary who appears to be alllieted with the notion that somebody's ne gro is about to be put on an equality with him. This appears to arise from a lurking sense of interiorly which the overseer strives lo conceal by blustering about Africans ami negro-equality. There are some persons ho are always asserting their superiority of the negro nice with so much emphasis that we are led to believe that they are not so much better than the negro as they would I ke to have it appear. Orrymian. LATEST EASTERN MEWS. HarrisbnTg, Pa., Feb. 12. Gov. Cuftin sent a message to the Legislatue to day, in reference to arbitrary arrests. It assumes that Congress alone has the power to suspend the writ of habeas corpus, and recommending the passage of a res olution requesting Congress to take such action as may bring the guilty to punishment and relieve the initoeeut. While the Govenor admits that these arrests were necessary at the commence ment of the rebellion, he does not think there is any occasion for them at the present time. New York, Feb. 1 1. The Tribune's dispatches from Washington, say, the joint committees on the conduct of tho war are making inquiry into the influences which persuaded tho President to countermand Gen. Burnsido's orders to cross tho Rappahannock and renew the Fredericksburg fight. Five days before the departure of tho North Star from Key West, a communication was re ceived by Rear Admiral Bailey from Consul General at Havana, stating that ho had received a letter from Trinidad, Cuba, that information had been received from Kingston, Jamaica, that theAlabama had reached that port Jan. 30., and landed the remainder of the officers and crew of of the Hatterus. She had five shots in her hull, one of which through the stern was a very bad one. She put into Kingston to repair damages, and expected to be ready for sea rgain in four "lays. Imniediatly on receipt of this news the steamers Waehusett and Oneida sailed direct for Kingston, and Sautaugent was ordered to tho same port. The Tribune says that one of tho new iron clad gunboats is on shipboard en route for San Francisco where it will be used for harbor defen ses. Nashville, Feb. 10. Our forces entered Leb anon on the 8, and captured 000 rebels most of them of Morgan's command. San Francisco, Feb. 11. A dispatch from New York says coll'ee has advanced in Europe, in consequence of w hich tho stocks here have been withdrawn, Sacramento, Feb. 12. In tho Senate BurneT introduced an act to suspend further collection of bederul tax in this State-referred. McLwen in troduced a resolution, instructing committee on military atliiirs to inquire whether steps have bee'i taken by the Federal Government to place the coast and harbors ofathis State, and particular ly that of San Francisco, in a position favorable for defence ngainst the assaults of hostile maritime powers. Also, whether the cooperations of this State is needed to carry forward or complete the works of defense already projected or commenced by the Government-. Also whether there are in this State such quantity or quality of ordnance, arms and ammunition, os in the event of a for eign war would bo indispensable, and this com mittee report at the earliest day possible. Adopted, Washington, Feb. 13. The S cnato Com mute on Military Atliiirs reports adversely on the I louse bill for raising a negro nrmv of a hundred and fifty thousand men. The Com mitteo claims that sufficient authority is given to enlist negroes, without limit, by the Act of July, 1802. The Senate passed a bill to day reviving tho statute of 1791 for preventing correspondence w ith the enemy. It imposes heavy penalties in lIio shape of fine and imprisonment for violating the law. A INt of forty-eight Major Generals nnd one hundred and fifty four Brigadier Generals was returned to the President last night, for revis ion, the Senate declining to u t upon it, A report of the Committee on Territories was made by Senator Wade to day, in answer to a resolution, which shows that the Utah Legisla ture suppressed the Governor's message, that no freedom of suffrage is allowed or opinions tolerated in opposition to the church dignita ries ; lhat polygamy is practi ed to the extent of incest; that there is no law giving redress for tho abuse of marriage relations, and that the Mormons are openly inimical to the Government of the United States, though in the popular phrase, "steadfast adherents of the Constitution." Washington, Feb. 13. The Senate, last night, passed Sherman's Bank Bill, by two ma jority. Its friends claim a much larger major ity for it in the House. Washington, Feb. 13. The bill to provide ways and means for the support of tho Govern ment passed the Senate to day, tho umout of notes to be issued having been reduced from three hundred to one hundred and litiy millions, the tax being imposed upon bank circulation of one per cent, for two years and two per cent, thereafter. Washington, Feb. 14. The Senate has rat tified a treaty by which the Kaw Indians are to be removed from Kansas so soon as arrange ments can be made by the Indian Bureau. Bills have been prep! red und only await an opportunity to be reported, appropriating ten million dollars for the abolishment of slavery in Maryland, a million and a half for Western Vir ginia, and a hundred and fifty thousand dollars for Delaware. A Select Committee has agreeed on a bill to establish a Board of Emigration and Coloniza tion, in connection with the War Department. New York, Feb. 13. The London Shipping Gazette says : Should ths Emperors proposal lor meditation be rejected, he his apparently but one alternative to recognize the South and raise the blockade. It may be tnken for granted that the offered negotiations will be re jected, and that compulsory cessation of the con test, or a maritime war with the North will fol low. The Gazette asks : Can England alford to let the French Emperor proceed alone ? Or is he acting upon an understatding with her Maj esty's Government. New York, Feb. 15. The Asia, from Liver pool January 31, and Qiieeustown dates to Feb. 1st, has arrived. It is assumed by several wri ters the French Emperor's proposal of media, tiou is a preliminary step to more important action, and, if refused, the recognition of the Con federates will probably follow, whether England joins or not. It is reported that the proposal was submitted to Siidell in advance, ami that he and other Seces siouists pronounce it entirely inadmissible. Rumors were in circulation of new difficulties between the British nnd Washington Govern ments, owing to si ijurcs of English esc!s near the Bahama const. The emancipation demonstration nt Exeter Hall w as a Most enthusiastic affair, and in point of number, one of the most important sinco the Corn Law League. The resolution reiter ntes the sentiment of Emancipation Societies, ond expresses great sympathy for the North. Hostile amendments were promptly voted down, and the resolutions were carried almost unani mously. Tho Lendon Times was denounced amidst groans and hisses. Similar meetings were held nt other towns. Tho operatives at Bradford adopted a memorial thanking America for the relief afforded, and renuestinii assistance to emigrate as the most effective menus of alfordiug relief. Tho Timet indulges in a most gloomy picture of the present crisis in America, both military und financial-. Sfr Hubert Peel, in a speech, declarrd himself favorable to a seperation of the North and South, und strongly condemned Lincoln's emancipation edict. The Polish insurrection still smoulders, bui nothing important hud occurred. Warsaw is tranquil. The Prussian Chambers had voted an address hostile to the Government, by an overwhelming majority. New York, Feb, 10. Special dispatches front Washington state that Gen. Shields has been or dcred to the Department of the Pacific. The Alabama sailed from Kingston on the night of February 5th. Advices from New Orleons state that the steamer Swan, from Key West, for New Orleans has been lost, with sevei teen of her crew and passengers. The World's correspondent, snys of oppern1 tions near Vicksburg, that it is reported that Mo Arthur's division is being moved up to Luke Providence. Here it appears that the Missis, sippi is not far removed from two streams tho Macon and Lena joined to tho parent stream j thence they continue down in a tortuons path, until they reach Red river. It is deemed possi ble, with a little clearing, lo turn so much of the river into ai.ew channel as to make it navigable, leaving Vicksburg one hundred miles to tho eastward. Should this succeed, we might expect to see half of our army advancing in n fleet of transports to assist Banks, at Port Hudson, A Key West letter gives particulars of the chase of the Florida, by the Sonoma, on Baha ma Banks. Some derangement of the hitter's machinery interfered in favor of the rebel vessel. The Times snys that McClellan has applied for active service. Exchange, 171 172 j gold, 5758. Washington, Feb. 10. The Army of the Po tomac ia said to be very pooriv supplied with clothing, nnd have not been paid for sonic month-. A great dcul of dissatisfaction exists in rouse quenco. Important changes in conjunction with the Army jif the Potomac have taken place. The fifth division, under General Smith, started for Fortress Momot its reported destination is North Carolina, where it is rumored lhat Gcii Burnside will take command. Louisville, Feb. 17. G n. D.ividso-' his received a message from a scouting party, lit Batesvillu, stating that Hiu Iman's army was utterly demoralised and totally- inefficient'; ntnl a majority of the people of B.itesvi le are in favor of the permanent occupation by the Federal army. The letter adds that llindmanhad been ordered to evacuate, but his men refused lo go. Three hundred of his nu n wcrejl'ri son lo deiilh, on the n.ute from Van Buren. A mini her of deserters escaped in the canelu akes, in the iein ity of Vii ksl.urg. M iirma.luko has stripped the country nf horses and mules. New York, I'Vb. 18. A special dispntch says Secretary Chase has written a letter to the Null Treasurer of California declaring that the direct tax of lhat Suite can be paid in legal tender notes. Memphis, Feb. 17. The new gunboat hi dianola, followed the example of the Queen of the West, and run the blockade at Vicksburg, New York, Feb. 18. The Times' special d's patch says that Gen. Leman, from Charleston, states that large numbers of troops were recent ly collected there to defend tho city. Citizens generally left in anticipation of an attack from the Federals. He thinks the city cam ot be cap tured without a severe struggle. A mutiny re cently took place between some North Ciroliim regiments; three regiments were in it. Tho ring leaders were shot by Beauregard's ordeis. Advices from New Orleans, say that on Jan. 3D the gunboat Owusco was dispatched to Galveston with orders to run into the harbor, and examine carefully, without drawing any batteries which might have been erected, or in progress of erection. She lias returned, and reports that the Harriet Lone is still there, and that it is certain that she is disabled, as they saw her being towed by a small steanie". Washington, Feb. 10. A foraging party of a Michigan regiment, camped at Nolansville, had a severe skirmish w ith two companies of Fostei 'n command yesterday, in which we were successful. Immense supplies were forwnred to the army by railroad, which is heavily guarded the whole dis tance to Murfi eesboro. New York, Feb. 17. The World's Wash ington dispatch says that Fremont goes to Tex as with a command independent of the Depart ment of the Gulf. Charleston, Feb. 14. R'chmond papers say ihe frigate Ironsides maintained her position per manently with the blockading squadron of lhat port. A Yankee picket captured yesterday evening, thinks there will be uu iiumediute attack on Charleston. Washington, Feb. 17. The officers neeomp; nying the various vessels of the blockading squadron, deem it their duty to say, that tho reports published in the Charleston papers in regard to the late rebel raid, are entirely false. After the attack was ended, the blockade went on as before. No vessels went in or out of the port since that day that they know of, nor was any attempt made to run the blockade. Vicksburg, Feb. 11. There are many indi cations to-day of an immediate movement w hich seems to be independent of the army. Perhaps Hay nes Bluff batteries are to be attacked; there seems to be no rea-on why such a movement should not be inaugurated. The army is quiet ; considerable sickness continues to exist, small pox bein' the principal disease.