Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1862-11-08
Chase and stevens on the
Debt.
The New York Herald says:

The Secretary of the Treasury has been re
Gently writing letter in regard to the finances Of
the couniry-which We publish 70 day---in which
be characterixes a. groundiess absurdity the
statement that the National debt amounted TO
two thousand mslssobs OF dollars, and sets down
the amount at less than SIX hundred and forty
millions-, he seems 70 be At loss 10 account for
the presaleebce Of The idea that the Debt was 80
enormous. We can easily relieve his mind on
that point, and trace the statement home 20 its
author Mr. Tha,ieus Stevens. Chairman OF the
Committee OF Ways and Mesns-a position
which gives him an opportunity OF knowing
whereof he speaks-declared in bis place IN the
House of Representatives several times during
the last session, and has recently repeated II IN
speech made TO his constituents at home, that the
National debt would amount at the end OF the
present year to two thousand millions.
Now, which Of these two fiscal functionaries
are the people to believef Both have almost
equal facilities for making up their estimates; In
fact, the sources Of information are common TO
both. Some approach to bridging over the vide
gulf between their respective statements may be
made BY supposing that tho Secretary OF the
Treasury confines himself TO the debts actually re
corded, while the Chairman OF Ways and Means
aggregates all the liabilities Of the Government
actual and prospective. Up to the lst OF July,
1863. For instance, the fifty millions now due
to the army has probably not entered into the
Secretsrys computation. but has entered into that
Of the Chairman OF Ways and Means. After
making all such allowances, however, the sub
stantial fact remains unaffected that there i a
difference Of more than thousand millions OF
dollars between Mr.. Chase's and Mr.. Stevens )
respective estimates OF the national debt. How
can this be explainedl If Mr.. Chase is at all
near the mark in his estimate Mr.. Stevens can
know nothing OF what he has been talking about;
whereas, if Mr.. Stevens is nearer the TRUTH then
there must be gross faIsehoOd aud misrepresenta-
ton the part OF Mr. Chase
Now, whatever may have been Mr. Chase's
dement's in the choice OF General-he being re-
sponsbe for all the evils that have attended the
keeping of Mcdowell in command-or whatever
blame may be Justly attributed 10 him for the
financial policy which has placed gold at "a pre-
MUM OF thirty per cent, he Is a man OF too
much natural ability to commit such an egregi
Gus blunder in the rule OF staple addition, aud
we do not for a moment suppose that ne Is inten-
tionaly misleading the public in the matter OF
the national debt The only logical conclusion,
therefore, is that Mr. 1haddeus Stevens Is either
stating what he knows 10 be false or is ignorant
altogether OF what he is talking about. We do
not undertake TO decide on which horn OF the di-
lemma the Chairman of the Committee OF Ways
and Means should hang, or whether the error lies
with him or Mr. Chase. Between the two il Is,
and it is of the utmost Importance that the truth
shall be ascertained beyond peradventure. and
that the party who is guilty OF ignorance mis-
representation shall cease to occupy the high po-
sitiOn which he now fills.