Does "them" refer to "religions "? "The Churches which represent them..."

Does "them" refer to "religions "? "The Churches which represent them..."

It may be asked, why should not the old religions be strong enough to rescue the world from its spiritual degradation? The answer is that they have all been tried and all have failed. The Churches which represent them have themselves become to the last degree formal and worldly and material.
"The History of Spiritualism," by Sir Arthur Conan Doyle