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A nonlinear oscillation of the level and of the current is theoretically predicted and experimentally observed in a U‐tube system containing a polar liquid with a capillary whose diameter is as large as 1 mm, and which is equipped with an electrode injecting unipolar ions. The observed critical potential difference, amplitude, period, and waveforms of the level oscillation agree qualitatively and quantitatively with the theoretical results. The experimental amplitude of the current oscillation is larger than the theoretical one, and it is suggested that the discrepancy might be due to the high‐field dissociation current of neutral impurities.