The Mormon Hierarchy: Wealth and Corporate Power

by D. Michael Quinn

Early in the twentieth century, it was possible for Latter-day Saints to have lifelong associations with businesses managed by their leaders or owned and controlled by the church itself. For example, one could purchase engagement rings from Daynes Jewelry, honeymoon at the Hotel Utah, and venture off on the Union Pacific Railroad, all partially owned and run by church apostles. Families could buy clothes at Knight Woolen Mills. The husband might work at Big Indian Copper or Bullion-Beck, Gold Chain, or Iron King mining companies. The wife could shop at Utah Cereal Food and buy sugar supplied by Amalgamated or U and I Sugar, beef from Nevada Land and Livestock, and vegetables from the Growers Market. They might take their groceries home in parcels from Utah Bag Co. They probably read the Deseret News at home under a lamp plugged into a Utah Power and Light circuit. They could take out a loan from Zion’s Co-operative and insurance from Utah Home and Fire. The apostles had a long history of community involvement in financial enterprises to the benefit of the general membership and their own economic advantage. This volume is the result of the author’s years of research into LDS financial dominance from 1830 to 2010.

Genres: Mormonism, Religion, American History, Nonfiction, Lds

1049 pages, Kindle Edition

First published February 1, 2016

Reviews

[Rob · Rating 5 out of 5]

In Quinn's typical style, this is an exceptionally detailed and comprehensive study. The main text is divided into three chapters (Personal Wealth [of past LDS leaders], Corporate Mormonism, and Church Finances), each with extensive endnotes. This portion of the book ends on page 157. Pages 158-538 are dedicated to appendices giving detailed financial information on a variety of topics (e.g., net worth of LDS leaders at time of death, reproduced text of financial statements filed by Church units internationally, etc.).

Since much of the Church's current financial information is not publicized, Quinn makes extrapolations or calculations based on available data. In such instances, he is careful to describe and justify the assumptions made and data used. On the whole, Quinn seems to conclude that the Church's business ventures exist to support the religious, philanthropic, and humanitarian missions of the Church, and that its paid leadership are not unreasonably compensated. Quinn's approach seems unbiased; he seems to express both admiration and criticism on various points across the financial past and present of the Church.

I sometimes get the impression that Quinn attributes slightly too much significance to some facts–for example, the association of various general authorities with given business concerns. A careful reader (of the type likely to be reading this work in the first place) will be cognizant of such instances and judge for themselves in the context of Quinn's expertise informed by his thorough research. On the whole, he is conscientious about his methods, and in his calculations he appears tend toward conservative, well-supported assumptions.

[Kendal · Rating 3 out of 5]

Adventurers In Quinning:

In his third Power publication, Quinn asserts that "the business of [incorrect name of the Church] was business."

Aside from the obvious ... that this is what antisemites say about the Jews, Quinn then begins by talking about Joseph Smith's treasure seeking.

This was just part of his normal livelihood.

In the broad sense, all religious life involves fulfilling God's commandment to work: "by the sweat of the brow" and "six days thou shalt labor."

Plus using Henry B. Strings leaked paystubs is an unethical bite of fruit from the poisoned tree.

As always, the cause crushes all ethical considerations.

Sadly.

[Nathan · Rating 3 out of 5]

The book is a little dry, but I have a much better appreciation of the history of the wealth of the Church of Jesus Christ of Latter-day Saint.

[Samuel Hislop · Rating 4 out of 5]

Important Book

I’m always impressed by Quinn’s deep and valuable research. All his books are so thorough and comprehensive—and always worth reading.

[Jason · Rating 3 out of 5]

This final installment of the series feels a little more like mere reporting. I found myself wanting it to go deeper — what were the implications of Brigham Young’s substantial income? What does it say about the church if its top leaders become wealthy? Clearly there were others who did not become wealthy — what tensions, if any, did this cause? Maybe these issues were not addressed because there are not answers to these questions. The historical records may not provide sufficient information, and the modern church has effectively shut down access to this type of information. If you’ve read the first two “Mormon Hierarchy” volumes, it’s worth finishing the series, but this one is probably the weakest of the three.