AFFAIRS AT KIRTLAND. 113
buying merchandise in New York and elsewhere in excess of their abihty to pay. They built a steam- mill, which proved a source of loss, and started a bank, but were unable to obtain a charter; they is- sued bills without a charter, however, in consequence of which they could not collect the money loaned, and after a brief struggle, and during a period of great apostasy, the bank failed. It was called the Kirtland Safety Society Bank, of which Rigdon was president and Smith cashier. All this time, writes Corrill, "they suffered pride to arise in their hearts, and became desirous of fine houses and fine clothes, and indulged too much in these things, supposing for a few months that they were very rich." Upon the failure of the bank in 1838, Smith and Rigdon went to Missouri, leaving the business in the hands of others to wind up.^
' * They also suffered jealousies to arise among them, and several persona dissented from the church, and accused the leaders of the church with bad management, selfishness, etc. . . . On the other hand, the leaders of the church accused the dissenters with dishonesty, want of faith and righteousness, . . . and this strife or opposition arose to a great height, . . . until Smith and llig- don were obliged to leave Kirtland.' Corrill, in Kidder's Mormonism, l'2G-7. 'Subsequently they had a revelation,' another says, 'commanding them to establish a bank, which should swallow up all other banks. This was soon got into operation on a pretended capital of four millions of dollars, made up of real estate round about the temple.' John Hyde, Mormonism, 201, says that the bank, a store, and mill were started in Aug. 1831. Before me is one of their bills, dated Jan. 17, 1837, payable to C. Scott, or Ijearer. Mather says, Lipjnncott's Mag., Aug. 1880: 'Pdchard Hilliard, a leading merchant of Cleveland, received their bills for a few days, and then took possession of all their available assets. They were also in debt for their farms, and for goods bought in New York. The bubble burst, and many in the vicinity of Kirtland were among the sufferers. Smith and Rigdon fled to Far West, after having been tarred and feathered for their peculiar the- ories of finance.' 'Chauncey G. Webb (father of Ann Eliza Young) assisted in founding this bank, giving Smith all he possessed outside of his house and shoi^ toward completing the amount necessary for a capital on which to start the new enterprise. With the failure of the bank Webb lost everything.' Yoxiiiffs Wife No. 19, 33, 40-41; see account of formation of bank in /je«- neit's Mormonism, 135-6. 'Smith had a sort of bank issue on what was tlien called the wild-cat principle. His circulating medium had no redeeming basis, and was worthless in the hands of the people.' Tucl:er's Mormonism, 154-5. 'Smith had a revelation from the Lord, to the effect that his bank would be a pattern of all the banks in the United States, that it would speedily break, and that all the rest would follow the example. The bank was closed the same day.' Hall's Mormoni.wi, 19. The bank failed in Nov. 1837. liemifs Journey, i. 504; Busrh, Gcsch. der Morm., 84. 'By means of great activity and an actual capital of about §5,000, they succeeded in set- ting afloat from $50,000 to §100,000. The concern was closed up after Hist. Utah. 8
