People already tried having the Bible as a source of information. That was called the Middle Ages.
No, columbusdude82, not the Bible. In the Middle Ages, Roman Catholic dogma and traditions were the source of information. The Bible actually contradicts these traditions and dogma. The Catholic church knew this, so they had the Bible translated to Latin and outlawed any other translation of the Bible.
As OzmO said, the general population could not read, let alone read Latin. As OzmO said, mass was in Latin. Any educated person who could read Latin was still not allowed to read the Bible. The Bible could be read only by church leaders.
Many Hebrew, Aramaic and Greek copies of the Bible were collected and hidden from the public, and other copies were destroyed. Translating the Bible to the language of the common man was outlawed.