6. Conclusion

This paper has examined a large number of issues related to the Kirtland Safety Society. It has attempted to answer all criticisms that have been or will be made against Joseph Smith and the Church regarding the Safety Society. In particular, it has answered the charges that the Safety Society’s failure proves Joseph Smith wasn’t a prophet, that Joseph Smith intended to use the Safety Society to defraud the public, that Joseph Smith knowingly broke the law, and that its failure was due to Joseph Smith.

In answering these criticisms, this analysis has established the following. The Safety Society’s failure supports Joseph Smith’s claim as a prophet. His only prophecy regarding the Safety Society was that it would fail if not conducted on righteous principles. Its failure was, in fact, a direct result of fraud and dishonesty on the part of Warren Parrish and other officers. I have also established that Kirtland’s economy needed a bank. There was a shortage of money and a shortage of funds for business expansion. These problems were seriously detrimental for Kirtland’s prosperity. The Safety Society was also feasible. There was demand for a bank’s services, and the economy could support one. The risk of the venture was acceptable. It was common for those starting a bank to have little knowledge of how to run a bank. The Safety Society’s assets were sufficient. Joseph Smith had honest motives for establishing a bank. He and the Church needed a bank for transforming their illiquid assets into money for the payment of debts. This was an honest and legal endeavour. The claim that he presented boxes of debris as boxes of specie is not credible. Joseph Smith did intend to make money with the Safety Society, but not through dishonest means. He lost money due to his efforts to prevent the Safety Society from failing. The failure was not due to mismanagement or the reckless printing of notes by Joseph Smith and Sidney Rigdon. Failure was due to a coordinated bank run by Church antagonists and fraud by Warren Parrish.

Finally, the Safety Society was legal. The act under which Joseph Smith and Sidney Rigdon were prosecuted and convicted was not in force in 1837. The court made an error. Had the case been able to proceed to appeal, an honest judge would have overturned the conviction. At last, the Safety Society in no way fits the description of a wildcat bank.