Item Detail
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17797
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1
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16
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English
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George Q. Cannon's Economic Strategy in the 1890s Depression
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Journal of Mormon History
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Fall 2003
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29
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no.2
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Salt Lake City, UT
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Mormon History Association
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4-41
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During the last six years of his life, George Q. Cannon was the prime mover in the Church hierarchy in formulating and partially implementing an impressive economic recovery plan. During the disastrous economic depression in the 1890s, he energetically promoted a debt-funding strategy to use Church credit to attract financial assistance from eastern money lenders in order to organize a series of companies. His plan was primarily focused on stimulating employment in the region. Investments in electric power and beet sugar industries quickly paid dividends for the Church. Other business investments were not successful immediately, but became the foundation for some of the highly important, diversified financial holdings of the Church in the twentieth century. Cannon's far-sighted plan helped improve the Church's financial situation. He not only never received credit for this accomplishment, but was marginalized and discredited by some of the leading brethren during the last two and a half years of his life. This article tries to rectify this oversight of Cannon's financial mission and explain why he was unfairly treated.
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A History of Box Elder County
A History of Weber County
Church, State, and Politics : The Diaries of John Henry Smith
George Q. Cannon : A Biography
Great Basin Kingdom : An Economic History of the Latter-day Saints, 1830-1900
Isaac Trumbo and the Politics of Utah Statehood
Mormon Mavericks : Essays on Dissenters
Political Deliverance : The Mormon Quest for Utah Statehood
The Alienation of an Apostle from his Quorum : The Moses Thatcher Case
The Mormon Church and Nevada Gold Mines
The Mormon Corporate Empire
The Mormon Hierarchy : Extensions of Power
Things in Heaven and Earth : The Life and Times of Wilford Woodruff, a Mormon Prophet
Under the Prophet in Utah : The National Menace of a Political Priestcraft
Utah and the Depression of the 1890s
Wilford Woodruff's Journals