In a First Presidency statement from August 2, 1913, we read the following warning against members who are trying to deceive members with purported dreams and revelations. I am reproducing it here as, sadly, such is a phenomenon that is still common in some circles:
A WARNING VOICE
To the Officers and Members of the Church of Jesus Christ of Latter-day Saints:
From the days of Hiram Page (Doc. and Cov., Sec. 28), at different periods there have been manifestations from delusive spirits to members of the Church. Sometimes these have come to men and women who because of transgression became easy prey to the Arch-Deceiver. At other times people who pride themselves on their strict observance of the rules and ordinances and ceremonies of the Church are led astray by false spirits, who exercise an influence so imitative of that which proceeds from a Divine source that even these persons, who think they are "the very elect," find it difficult to discern the essential difference. Satan himself has transformed himself to be apparently "an angel of light."
When visions, dreams, tongues, prophecy, impressions or any extraordinary gift or inspiration conveys something out of harmony with the accepted revelations of the Church or contrary to the decisions of its constituted authorities, Latter-day Saints may know that it is not of God, no matter how plausible it may appear. Also they should understand that directions for the guidance of the Church will come, by revelation, through the head. All faithful members are entitled to the inspiration of the Holy Spirit for themselves, their families, and for those over whom they are appointed and ordained to preside. But anything at discord with that which comes from God through the head of the Church is not to be received as authoritative or reliable. In secular as well as spiritual affairs, Saints may receive Divine guidance and revelation affecting themselves, but this does not convey authority to direct others, and is not to be accepted when contrary to Church covenants, doctrine or discipline, or to known facts, demonstrated truths, or good common sense. No person has the right to induce his fellow members of the Church to engage in speculations or take stock in ventures of any kind on the specious claim of Divine revelation or vision or dream, especially when it is in opposition to the voice of recognized authority, local or general. The Lord's Church "is a house of order." It is not governed by individual gifts or manifestations, but by the order and power of the Holy Priesthood as sustained by the voice and vote of the Church in its appointed conferences.
The history of the Church records many pretended revelations claimed by impostors or zealots who believed in the manifestations they sought to lead other persons to accept, and in every instance, disappointment, sorrow and disaster have resulted therefrom. Financial loss and sometimes utter ruin have followed. We feel it our duty to warn the Latter-day Saints against fake mining schemes which have no warrant for success beyond the professed spiritual manifestations of their projectors and the influence gained over the excited minds of their victims. We caution the Saints against investing money or property in shares of stock which bring no profit to anyone but those who issue and trade in them. Fanciful schemes to make money for the alleged purpose of "redeeming Zion" or providing means for "the salvation of the dead" or other seemingly worthy objects, should not deceive anyone acquainted with the order of the Church, and will result only in waste of time and labor, which might be devoted now to doing something tangible and worthy and of record on earth and in heaven.
Be not led by any spirit or influence that discredits established authority, contradicts true scientific principles and discoveries, or leads away from the direct revelations of God for the government of the Church. The Holy Ghost does not contradict its own revealings. Truth is always harmonious with itself. Piety is often the cloak of error. The counsels of the Lord through the channel he has appointed will be followed with safety. Therefore, O! ye Latter-day Saints, profit by these words of warning. JOSEPH F. SMITH, ANTHON H. LUND, CHARLES W. PENROSE, First Presidency.