When asked, as President of the United States, "why not let the South go?" his simple, direct, and honest answer revealed one secret of the wise policy of the Washington Cabinet. "Let the South go!" said he, "where, then, shall we get our revenue?"
-- Albert Taylor Bledsoe, Is Davis a traitor; or, Was secession a constitutional right previous to the war of 1861?, Baltimore: Innes & Company, 1866, pp. 143-144.
Another effort was made to move Abraham Lincoln to peace. On the 22nd, a deputation of six members from each of the five Christian Associations of Young Men in Baltimore, headed by Dr. Fuller, and eloquent clergyman of the Baptist church, went to Washington and had an interview with the President. He received them with a sort of rude formality. Dr. Fuller said, that Maryland had first moved in adopting the constitution, and yet the first blood in this war was shed on her soil; he then interceded for a peaceful separation, entreated that no more troops should pass through Baltimore, impressed upun Mr. Lincoln the terrible responsibility resting on him - that on him depended peace or war - a fratricidal conflict or a happy settlement.
"But," said Lincoln, "what am I to do?"
"Let the country know that you are disposed to recognize the Southern Confederacy," answered Dr. Fuller, "and peace will instantly take the place of anxiety and suspense and war may be averted."
"And what is to become of the revenue?" rejoined Lincoln, "I shall have no government, no resources!" [italics in original]
--Robert Reid Howison, "History of the War", excerpted in Southern Literary Messenger, Vol. 34, Issue 8, August 1862, Richmond, VA., pp. 420-421.
And another similar account of the preceding:
"But," said Mr. Lincoln, "what am I to do?"
"Why, sir, let the country know that you are disposed to recognize the independance of the Southern States. I say nothing of secession; recognize the fact that they have formed a government of their own; that they will never be united again with the North, and and peace will instantly take the place of anxiety and suspense, and war may be averted."
"And what is to become of the revenue?" was the reply. "I shall have no government - no revenues."
--Evert A. Duyckinck, National history of the war for the union, civil, military and naval. Founded on official and other authentic documents, New York: Johnson Fry & Co., 1861.
The meeting was written up in the Baltimore Sun 23 Apr 1861 edition.
National revenue? Had not this very consideration much to do with the policy of coercion?"Thus," said Mr. Lincoln, "if we allow the Southern States to depart from the Union, where shall we get the money with which to carry on the Government?"
James Battle Avirett, The Old Plantation: How We Lived in Great House and Cabin Before the War, New York: F. Tennyson Neely Co., 1901, p. 18