is expedient not being effectual, the idea of a bank suggested itself.
Accordingly, in 1837, the far-famed Kirkland bank was put into
operation, without any charter.

This institution, by which so many have been swindled, was formed after
the following manner. Subscribers for stock were allowed to pay the
amount of their subscriptions in town lots, at five or six times their
real value; others paid in personal property at a high valuation; and
some paid the cash. When the notes were first issued, they were current
in the vicinity, and Smith took advantage of their credit to pay off
with them the debts he and the brethren had contracted in the
neighbourhood for land and other purchases. The eastern creditors,
however, refused to take their notes. This led to the expedient of
exchanging them for the notes of other banks.

Accordingly the elders were sent off the country to barter Kirkland
money, which they did with great zeal, and continued the operation until
the notes were not worth sixpence to the dollar. As might have been
expected, this institution exploded after a few months, involving Smith
and his brethren in inextricable difficulties. The consequence was,
that he and most of the members of the church set off, in the spring of
1838, for Missouri, pursued by their creditors, but to no effect.

We must now go back for a short period to state another circumstance.
In 1836, an endowment meeting, or solemn assembly, was called, to be
held in the temple at Kirkland. It was given out that those who were in
attendance at the meeting should receive an endowment or blessing
similar to that experienced by the disciples of Christ on the day of
Pentecost. When the day arrived, great numbers convened from the
different churches in the country. They spent the day in fasting and
prayer, and in washing and perfuming their bodies; they also washed
their feet and anointed their heads with what they called holy oil, and
pronounced blessings.

In the evening, they met for the endowment; the fast was then broken, by
eating light wheat bread, and drinking as much wine as they thought
proper. Smith knew well how to infuse the spirit which they expected to
receive; so he encouraged the brethren to drink freely, telling them
that the wine was consecrated, and would not make them drunk. As may be
supposed, they drank to some purpose; after this, they began to
prophesy, pronouncing blessings upon their friends and curses upon t