Much more was going on in 1837, including the Panic of 1837, in the broader economy. Consider the broader context from the videos below.
Another view from Gospel Tangents:
” The year 1837 was one of the most turbulent periods in all of Mormon history. It was the year the Kirtland Bank collapsed. Many, including apostles, lost faith in Joseph Smith and his ability to lead. Why did Joseph decide that Kirtland needed a bank? What were the economic reasons behind this?
Historian and Author, Dr. Mark Staker talks about this in his book [Hearken O Ye People: The Historical Settings of Joseph Smith’s Ohio Revelations] about the Kirtland period. We’ll talk to him about the events that led up to the Kirtland Banking Crisis.”