dence which the "outside world" placed in the integrity of the Mormon leader at that early period of his life. The notes of the Safety Society Bank were received with greater confidence than most of the bank paper then in circulation in the West. The banks in Ohio, Pennsylvania, Indiana, and Illinois no longer paid in specie, but were doing a "suspended business.' The Safety Society paper obtained a wide circulation; for, however fanatical and deluded the people might be considered, their honesty had up to this time never been questioned.
"The names of Joseph Smith as cashier and Sidney Rigdon as president were signed to the beautifully engraved bank-notes. As these men professed to be prophets of the Lord, having daily communion with angels, with Christ, and even with God himself, no one supposed that they would lend themselves to a fraudulent issue of bank paper. Those who saw the notes to which their names were attached supposed the bank to be simply a savings institution in which the Saints could deposit their earnings, while they would be invested so as to pay interest, and that the notes represented actual money in bank, or the paper of good men."[1]
This kindly supposition was further extended, and the Safety Society Bank paper became a favourite medium of circulation with Saint and sinner. Bankers took it freely, and the people preferred it because it was "safe," while so much other paper at that period was of very doubtful character. The outfitting of the Eastern Saints for Zion in the west, the purchasing of cattle, wagons, farming and mechanical tools, and everything needed for a new home, afforded the paper, under such a favourable reception, an extensive circulation. But a crisis came which the Mormon historian charges to the wiles of the devil aided by "apostates," the bankers being the direct instruments. Joseph accused the bankers of having combined to crush him, and the bankers claimed that they only wanted to be assured of the ability of the Safety Society Bank to meet its liabilities before they received too much of its paper, which was surely not a very unreasonable precaution.
The Pittsburg bankers deputed a Mr. Jones, one of their number, to visit Kirtland, and with a well-packed satchel he found himself in due time in the presence of the inspired bankers. Mr. Jones's recital of that interview is very touching.—
- ↑ Extract from a letter by a Pittsburg banker to the Author.
