The Story of the Mormons, from the Date of Their Origin to the Year 1901Linn, William Alexander
History
The Story of the Mormons, from the Date of Their Origin to the Year 1901
Linn, William Alexander
Latter Day Saints -- History; Utah -- History
Later enterprises at Kirtland, undertaken under the auspices of the
church, included a steam sawmill and a tannery, both of which were
losing concerns. But the speculation to which later Mormon authorities
attributed the principal financial disasters of the church at Kirtland
was the purchase of land and its sale as town lots.* The craze for land
speculation in those days was not confined, however, to the Mormons.
That was the period when the purchase of public lands of the United
States seemed likely to reach no limit. These sales, which amounted to
$2,300,000 in 1830, and to $4,800,000 in 1834, lumped to $14,757,600 in
1835, and to $24,877,179 in 1836. The government deposits (then made
in the state banks) increased from $10,000,000 on January 1, 1835, to
$41,500,000 on June 1, 1836, the increase coming from receipts from land
sales. This led to that bank expansion which was measured by the growth
of bank capital in this country from $61,000,000 to $200,000,000 between
1830 and 1834, with a further advance to $251,000,000.
* "Real estate rose from 100 to 800 per cent and in many cases
more. Men who were not thought worth $50 or $100 became purchasers
of thousands. Notes (sometimes cash), deeds and mortgages passed and
repassed, till all, or nearly all, supposed they had become wealthy,
or at least had acquired a competence."--Messenger and Advocate, June,
1837.
The Mormon leaders and their people were peculiarly liable to be led
into disaster when sharing in this speculators' fever. They were,
however, quick to take advantage of the spirit of the times. The Zion of
Missouri lost its attractiveness to them, and on February 23, 1833, the
Presidency decided to purchase land at Kirtland, and to establish there
on a permanent Stake of Zion. The land purchases of the church began at
once, and we find a record of one Council meeting, on March 23, 1833,
at which it was decided to buy three farms costing respectively $4000,
$2100, and $5000. Kirtland was laid out (on paper) with 32 streets,
cutting one another at right angles, each four rods wide. This provided
for 225 blocks of 20 lots each. Twenty-nine of the streets were named
after Mormons. Joseph and his family appear many times in the list of
conveyors of these lots. The original map of the city, as described
in Smith's autobiography, provided for 24 public buildings temples,
schools, etc.; no lot to contain more than one house, and that not to be
nearer than 25 feet from the street, with a prohibition against erecting
a stable on a house lot.*
* Millennial Star, Vol. XIV, pp. 438-439.
Public-domain text, read in full here on John Shaqi.
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