I play washtub bass. Go ahead and oil the hinge. I think you'll find that the washtub bass is one of the most indestructable instruments ever made(they need to be, in order to survive the attacks we suffer from angry musicians). Just start thumpin',and have fun, but first do a search for Lauren Miller's "Washtub Bass Page" ( may also be found under Tub-o-tonia).
Best, The Invisible Blazoona