You must be equal in earthly things
1The Lord spake unto Joseph Smith, Jun., saying: Hearken unto me, saith the Lord your God, who are ordained unto the high priesthood of my church, who have assembled yourselves together;
2 And listen to the counsel of him who has ordained you from on high, who shall speak in your ears the words of wisdom, that salvation may be unto you in that thing which you have presented before me, saith the Lord God.
The Lord said to Joseph Smith, Jun.: 
Listen to me.
3 For verily I say unto you, the time has come, and is now at hand; and behold, and lo, it must needs be that there be an organization of my people, in regulating and establishing the affairs of the storehouse for the poor of my people, both in this place and in the land of Zion -
4 For a permanent and everlasting establishment and order unto my church, to advance the cause, which ye have espoused, to the salvation of man, and to the glory of your Father who is in heaven;
Behold, and lo,
the time has come to establish some rules about the storehouse for the poor.
5That you may be equal in the bonds of heavenly things, yea, and earthly things also, for the obtaining of heavenly things.
So you can be equal in heavenly and earthly things.
6For if ye are not equal in earthly things ye cannot be equal in obtaining heavenly things;
Because if you're not equal in earthly things,
you can't be equal in heavenly things.
7 For if you will that I give unto you a place in the celestial world, you must prepare yourselves by doing the things which I have commanded you and required of you.
If you wan't a place in the celestial world,
you have to do what I say.
8 And now, verily thus saith the Lord, it is expedient that all things be done unto my glory, by you who are joined together in this border;
You must do everything for my glory.
The council: Joseph Smith, Newel K. Whitney, and Sidney Rigdon
9 Or, in other words, let my servant Newel K. Whitney and my servant Joseph Smith, Jun., and my servant Sidney Rigdon sit in council with the saints which are in Zion;
Newel K. Whitney, Joseph Smith, Jun., and Sidney Rigdon will sit on the council.
10Otherwise Satan seeketh to turn their hearts away from the truth, that they become blinded and understand not the things which are prepared for them.
11 Wherefore, a commandment I give unto you, to prepare and organize yourselves by a bond or everlasting covenant that cannot be broken.
12 And he who breaketh it shall lose his office and standing in the church, and shall be delivered over to the buffetings of Satan until the day of redemption.
13 Behold, this is the preparation wherewith I prepare you, and the foundation, and the ensample which I give unto you, whereby you may accomplish the commandments which are given you;
Otherwise Satan will try to blind them.
14 That through my providence, notwithstanding the tribulation which shall descend upon you, that the church may stand independent above all other creatures beneath the celestial world;
The church must be independent and above everthying below the celestial world.
15 That you may come up unto the crown prepared for you, and be made rulers over many kingdoms, saith the Lord God, the Holy One of Zion, who hath established the foundations of Adam-ondi-Ahman;
You will rule over many nations, says God, who has established the foundations of Adam-ondi-Ahman. 
God has established Michael's feet
16Who hath appointed Michael your prince, and established his feet, and set him upon high, and given unto him the keys of salvation under the counsel and direction of the Holy One, who is without beginning of days or end of life.
17 Verily, verily, I say unto you, ye are little children, and ye have not as yet understood how great blessings the Father hath in his own hands and prepared for you;
18 And ye cannot bear all things now; nevertheless, be of good cheer, for I will lead you along. The kingdom is yours and the blessings thereof are yours, and the riches of eeternity are yours.
19 And he who receiveth all things with thankfulness shall be made glorious; and the things of this earth shall be added unto him, even an hundred fold, yea, more.
And who has appointed Michael your prince, 
established his feet,
and given him the keys to salvation.
20 Wherefore, do the things which I have commanded you, saith your Redeemer, even the Son Ahman, who prepareth all things before he taketh you;
So do what I command you to do,
says your Redeemer, the Son Ahaman. 
21 For ye are the church of the Firstborn, and he will take you up in a cloud, and appoint every man his portion.
Because you are the church of the Firstborn,
he'll take you up in a cloud.
22 And he that is a faithful and wise steward shall inherit call things. Amen.
Whoever is a faithful and wise steward will inherit everything.