OREGON F PRESS FUR THE, VOL. I.) WEEK ENDING SATURDAY, AUGUST 12, 1848. (NO. 19. ; Here shall the Press the people's rights maintain, Unawed by influence, and unbribed by gain." IMPORTANT NEWS. By the arrival of H. B. M. ship Constance, at Ft. Vicloria.and through the politeness of her commander, Capt.CouHTENAY,we have received a file or the "Poly nesian" to June26tli,from an extra of which journal we condense the following news: Dates from the United States are to the24lh of April. The commercial distress in Europe had reacted upon commercial business in the United States. Several failures had taken place and the panic was becoming general. The political world has become somewhat excited lalolv by a circular from Mr. Clay, addressed to the public, m which lie avows his determination to submit iiis name to the Whig National Convention, and ex presses his conviction that his cfiances of election are better than those of any other man before the people. This document has created a great deal of surprise, and much excitement, particularly among the members of his own party. Many of them are pledged to Gen. Taylor, and being certain that lie would be nominated, are now in a dilemma. The two Taylor papers in New Orleans depricate Mr. Clay's couise, although the former expresses its determination to support him should he bo nominated. Gen. Taylor has also written another letter. v.vUic h IN rnocj ainul M 'document tfiSSfia"jryeT"cinaiiati'(I from his pen. He says he is milling to accept a nomination trom either party, or from the people independent of parly, it is now gen erally conceded that Clay will be the nominee of the Whigs. The Democrats have as yet indicated no pre ference for any particular man. Resolutions, otrering sympathy, congratulation, etc., to France, passed the Senate unanimously, and the House with but two dissentients. Senator Allen, of Ohio, introduced them. President Polk has given his approbation to the prompt recognition of the new gov ernment of Franceby Mr. Hush, our Minister at Paris. A question of great interest has arisen in Congress which will be likely to create much discussion, 'lhe question is, whether Congnss uill recognize slaves as properly j and pay fot it when it shall be lost or des troyed while in the service of the Unfed States. A bill passed the House of Representatives on the 7th of Feb., authorising a loan of 16,000,000 dollars at (5 per cent., at 20 years, with a restriction that the stock shall not be negotiated under par. A variety of n ports were current in New York as to who would take the loan. The house of Messrs. Rothschild was mentioned, but the rumor is contradicted by the American papers. It is stated that the Emperor of Russia was pn pared to advance bullion to the amount required but this is doubtful. The N. Y. Herald, of Feb. 20, stales that audits of Louis Philippe were in Now Ycrk investing property for him in case his family should, after hUi death, be driven from the throne of France and it vas estima ted that his ex-Majesty had 1,000,000 dollars invested in houses and American stock in anticipation of some outbreak in France. In reply to a call of the house of Representatives to know what instructions had been given to the officers of the army and navy in regard to permitting the return of Santa Ana, an order, dated May 13, '46; signed by Geo. Bancroft and directed to Com. Conner, command ing him to allow Saniu AS to nass, was produced. An electric telegraph is proposed IVOin U?9 Atlantic to the Pacific. It is already in operation to St. Louis, itS remaining distance is only 2,000 miles, and the estimate is that the line could be completed to the Pacific shores for 300,000 dollars. The elections in Canada had resulted in the gain by the opposition or radicals of 52 members, against 19 gained by the ministers. Great excitement prevailed at Montreal, every citizen was arming himself, lists of new ministry were all Papineau fabrique. Groat changes in office were expected. Parliament assem bled on the SSlhof Feb. This L.J. Papineau was spea ker of the Canadian Parliament in 1836 in '37 lie was an outlaw willi a price on his head in '38 he was to be put to death untried if found in Canada in '47 he again uttered anattiemas against colonial rule, and in '48 it was believed he would be again elected Speaker of the 3d united Parliament of Canada. All Europe is in a ferment the dates from whence are to the 3d of April. The British Government have made an appropriation of 15,000,000 pounds for the in crease of the Navy and for the protection of their coast. Symptoms of revolt had been manifested in Ireland, and ten thousand troops had been ordered there. The Young Ireland, or physical force party, held a grand monster meeting in Dublin on the 20th of March. the government did not interfere, but the next day the lea ders were arrested. Their trials were to take place Voon. . ,. -.- - jlouis Philippe and the Royal Family were still at Claremout, a dwelling place given them by Qui en Vic toria. Mnns.Guizot, Dticbalei and Moulbellow, the. ex-Ministers, were in attendance upou the Royal Fam ily at clarcmont. Great distress in the commercial world pervades all Europe. Commerce was stagnant and atlairs wor ex tremely gloomy. The celebrated house of RolhsehiU. are reported to have suspended papmenL Her Majesty, Queen Victoria, was safely delivered oi a princess on the 19th of March. Riolous assemblages had taken place in the earl part of last March, in the metropolis, Glasgow, kdiu hurgh, and Manchester, which, m Glasgow, resulted in bloodshed and death; the mililaiy having come in direct collision willi the people. These riots were oc casioned by the news of tfie French revolution and fresh taxation. The News of Feb, 24th, says: "The Budget is opened, and for repeal of taxation we find a redoubled income tax, the most inquisitorial and intolerable of imposts. A cry is raised the Min istry shrink from their responsibility and throw it on a secret committee. The country will not enuure this already hostile meetings are being called in all the great provincial towns." Couci ruing .Kicdit atlairs, but little faith was on? terlaiih d, in the Staks, that the treaty would be rati fied by the Alexican Congress. A letter, dated Tepic, May 23d, in the Pol) nesian, says : "The mail of this morning gives us nothing satisfac tory about the ratification of the treaty, the geiieral impression is that the u'ovcmmenl will be auie to carry the measure through the Congress by considerable ma jorities, and that by the end oi the moiilh ine whole will be concluded. As Mexican politics are not much to be depi nded upon, it may be thought thai em lines .of peace will yet deli at tin government, as ben. Pare tics has united himsi If with the Puros, or extreme lib eral party, and made a pronunciameuto in "Agnastu lieutes" against th. government, and in favor of uuiou and war." (Continued on fourth page.) - M