Max H. Parkin discusses, and defends, the Kirtland Safety Society being capitalized at four million dollars at its inception.

Date
May 1966
Type
Academic / Technical Report
Source
Max H. Parkin
LDS
Hearsay
Direct
Secondary
Reference

Max H. Parkin, "The Nature and Cause of Internal and External Conflict of the Mormons in Ohio Between 1830 and 1838" (M.A. Thesis; Brigham Young University, May, 1966), 301

Scribe/Publisher
Brigham Young University
People
Max H. Parkin
Audience
Reading Public
Transcription

At the time of the bank's inception, it was capitalized at four million dollars. Critics have found fault with this enormous figure because the capitalization of all the banks in the state of Ohio at that time was only nine and one third million. Yet, if the capitalization of the bank at four million dollars is viewed with the concept that the Kirtland Safety Society was to be the parent of a national, and, perhaps, an international financial system, the high capitalization figure would seem realistic.

Citations in Mormonr Qnas
Copyright © B. H. Roberts Foundation
The B. H. Roberts Foundation is not owned by, operated by, or affiliated with the Church of Jesus Christ of Latter-day Saints.