Amazing.
Federal revenue in 1860 was primarily driven by customs duties (tariffs) and public land sales, with total receipts for the fiscal year ending June 30, 1860, amounting to approximately $56 million.
Got any more fables?
Got any more fables?
Aren't your own enough for you?
In a discussion about revenue lost due to Southern secession, here is Lincoln himself saying it is "fifty or sixty million."
"Well,’ said he, ‘what about the revenue? What would I do about the collection of duties?’ Said I, ‘Sir, how much do you expect to collect in a year?’-Said he, ‘Fifty or sixty millions.’ ‘Why sir,’ said I, ‘four times sixty is two hundred and forty. Say $250,000,000 would be the revenue of your term of the presidency; what is that but a drop in the bucket compared with the cost of such a war as we are threatened with? Let it all go, if necessary; but I do not believe that it will be necessary, because I believe that you can settle it on the basis I suggest.’ ”