James Ford Rhodes (18481927). History of the Civil War, 18611865 1917.
There were also other reasons why the President did not wish to part with them. Since April, 1861, Seward had rendered him a loyal support; sinking his ambition for the Presidency, he had come to appreciate Lincolns ability and to acknowledge in him the head of the Government in reality as in name. He had been an efficient minister. Although slavery in the Confederacy was a stumbling-block in the way of its recognition by England and France, and whilst the influence of Lincoln, Adams and Sumner in foreign relations was of great weight, much credit is still due the Secretary of State for managing the affairs of his Department in such a way as to avert the interference of Europe in our struggle.
Chase was supreme in his own Department and wrote the financial part of the Presidents message of December 1, 1862. Lincoln had had no business training and, like many lawyers had little or no conception of the countrys resources and sustainable outlay. Having no taste for the subject, he did not try to grasp the principles of finance, and being obliged to master, as a layman may, the arts of war and diplomacy, he was wise to attempt no more. But Lincoln though unversed in finance had a first-rate knowledge of men, and this it was that led him to retain as his Secretary of the Treasury one whose inflexible honesty and receptive mind justify the popular estimate of him as a strong finance minister. That the war had gone on for nearly two years with an immense expenditure of money, and that the Government could still buy all it needed of food and munitions of war and could pay its soldiers, was due primarily to the patriotism and devotion of the Northern people, but honor should also be given to the manager of the countrys finances.