Law of consecration
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The Law of Consecration, as practiced by the Latter Day Saints, was for the support of the poor (Doctrine and Covenants 42:30). Latter Day Saints were asked to voluntarily deed (consecrate) their property to the Church of Christ, and the church then would assign to each member a "stewardship" of property "as much as is sufficient for himself and family" for his "needs, wants, family, and circumstances." If consecrated property became more than was sufficient for the assigned steward, the "residue" was "to be consecrated unto the bishop" kept for the benefit of "those who have not, from time to time, that every man who has need may be amply supplied and receive according to his wants."
On February 4, 1831, Smith received a revelation calling Edward Partridge to be the first bishop of the church. Five days later, on February 9. 1831, Smith received another revelation detailing the Law of Consecration.
Bruce R. McConkie stated that "[t]he law of consecration is that we consecrate our time, our talents, and our money and property to the cause of the Church: such are to be available to the extent they are needed to further the Lord’s interests on earth."
- Hirschi, Frank W. (1992), "Consecration", in Ludlow, Daniel H., Encyclopedia of Mormonism, New York, NY: Macmillan, pp. 312–314, ISBN 0-02-904040-X, OCLC 24502140.