Russell's actual words were:
But let us suppose a case far from our expectations: suppose that A.D. 1915 should pass with the world's affairs all serene and with evidence that the "very elect" had not all been "changed" and without the restoration of natural Israel to favor under the New Covenant. (Rom. 11:12,15.) What then? Would not that prove our chronology wrong? Yes, surely! And would not that prove a keen disappointment? Indeed it would! It would work irreparable wreck to the Parallel Dispensations and Israel's Double, and to the Jubilee calculations, and to the prophecy of the 2300 days of Daniel, and to the epoch called "Gentile Times," and to the 1260, 1290, and 1335 days, the latter of which marking the beginning of the "harvest" so well fulfilled its prediction, "Oh, the blessedness of him that waiteth and cometh unto the 1335 days!" None of these would be available longer. What a blow that would be! One of the strings of our "harp" would be quite broken!
However, dear friends, our harp would still have all the other strings in tune and that is what no other aggregation of God's people on earth could boast. We could still worship a God so great and grand that none other could compare with him. We should still see the grandeur of his salvation in Christ Jesus--"a ransom for all." We should still see the wonders of "the hidden mystery," our fellowship with our Redeemer in "his death" and also "in his resurrection" to "glory, honor and immortality"--"the divine nature." If, therefore, dearly beloved, it should turn out that our chronology is all wrong, we may conclude that with it we have had much advantage everyway.
-- October 1, 1907, Watch Tower