One of the Commissioners, Mr. J. S. Hayes, in a special report upon the subject, proposes to draw some part of the revenue from the national bonds. Those which are now reached by the income tax when the holders are residents here should be reached hereafter by an impost on dividends and coupons, according to Mr. Hayes's idea. He urges that these bonds were issued when the currency was depreciated to 73 per cent, or 27 per cent below par; but it was the government paper that depreciated it, and the loyal men who subscribed for the national bonds in many instances used funds drawn from mortgages upon which they had advanced in gold the money they invested. Great Britain realized only 63 per cent or less in depreciated currency from her three-per-cents, but redeems them at par, or buys them in open market. There may be instances in which individuals evade local taxes by such investments, but even this tends to popularize the loans and reduce interest; and it may well be asked whether it would not be wiser for the nation to make the loan popular, treating it as sacred, and thus save twenty or thirty millions in interest annually by reducing interest one per cent, than to attempt to save two thirds that amount by taxes, which would inspire lenders with distrust, injure the credit of the nation, and weaken its resources in a future exigency. TAXES ON GROSS RECEIPTS. The Commission, while they condemn charges on transportation, continue for the present nine millions in taxes on the gross receipts of steamers, ships, and railways, which it would be wise to relinquish at the earliest moment. The railways to earn one dollar must charge two, which doubles these taxes to the public, and adds to the cost of delivering each ton of coal and each bushel of grain at the seaports, so that our internal commerce now presents the strange anomaly of Indian corn selling at one dollar per bushel in Boston, and at thirty-six cents in Chicago, or less than the price in gold before the Insurrection. Such charges are an incubus on trade, and may wisely be abandoned. PROVINCIAL COMMERCE.