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Source: Church History Vol. 2 Chapter 5 Page: 89 (~1837)

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89 CHAPTER 5

1837

THE year 1837 commenced in Kirtland by a movement upon the part of some of its citizens to establish a general banking business. Though this was never church measure, some of the leading men of the church engaged in the enterprise. The fate of this enterprise was an unfortunate one. The financial stringency of 1837, under which many older and better established institutions went down, combined with the opposition urged by the enemies of the church, and probably with some mismanagement, insured its failure. Stories were put afloat that the officers of the bank had stolen the funds. No institution of the kind ever failed without such reports being circulated. In this case where there was so much religious opposition to the stockholders and officers, these reports would, of course, be more likely to obtain. We therefore beg the indulgence of the reader while we give some items regarding this institution, which do not properly come under the head of church history, because of its having been an individual or private enterprise.

A meeting of the Kirtland Safety Society was held at Kirtland, Ohio, on January 2, 1837, of which the following are the minutes:-

"Minutes of a meeting of the Members of the 'Kirtland Safety Society,' held on the 2d day of January, 1837.

"At a special meeting of the 'Kirtland Safety Society,' two thirds of the members being present, S. Rigdon was called to the chair, and W. Parrish chosen secretary.

(page 89)

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