Isaac Russell defends the Kirtland Bank against the claim that has refused to redeem its paper in specie.
Isaac Russell, letter to the editor of the Guardian, March 11, 1837, Isaac Russell correspondence, 1837-1840, MS 6066, Church History Library
To the Editor of the C[?] Guardian
Toronto March 14, 1837
Sir,
In your paper of the 4th of Feb, you gave place to an extract of a letter from a Methodist Minster who it is stated, resided in the vicinity of Kirtland, respecting the failure of the Kirtland Bank (fraudulently so called). He states the motives of the same writer of that letter, may, he states, must concerning the Bank of Kirtland was not founded in truth. The Bank has not refused to redeem its paper in specie, up to the present time. I have had the most undoubted confidence in institution from its commencement from a conviction of the integrity of those who were engaged in its official [illegible]. The Buffalo Star states "that the bank redeemed all its debts in specie." This is confirmed by the arrival of a letter this morning from Kirtland, who has been an eye witness to the operations of the Bank from its formation.
In your paper of the first March, in giving the statement of the Union City office respecting the building of your Smith to pay its real worth, you ask “Where did he get it?” And you answer “From those deluded beings who have given credence to his pretended aspirations.” Upon what assertions. You make these statements, I know not upon what authority, but I do know that the imputation is not true, which I am prepared to prove by all who have joined the Church from its commencement, up to the present time. Every individual in the Church holds his property the same as in the Methodist Society, and the same may be obtained by those in Kirtland. The total obligations of the Kirtland Safety Society Bank, or any other bank, are responsible the same as all kinds of Joint Stock Companies, which can be proved from the Constitution of the Association, and it can also be proved to the satisfaction of every candid man, that Joseph Smith, Jr., is as temporal in point of understanding advantages as the rest of his brethren in the Church. And all these statements are circulated for the purpose of injuring his character, and that of the Church, which he belongs.
In conclusion, I beg to state, that you do not think proper to investigate nor give the clamor, but are prepared to meet those and others who wish to overturn the system, must resort to other means than slander or investigation, to effect the mischief they contemplate.
Yours, &c.
Isaac Russell