Smith Lafayette Russell was born in Lincoln, Illinois, on January 23, 1895. He was the eldest of three sons of William Polk Russell, at that time Professor of Mathematics at Lincoln University, and his wife, née McGuire. The family moved to Claremont, California in 1904, where Smith's father had taken a position as Instructor in Mathematics at Pomona College. Smith entered Pomona College in 1911. Due to his age, Smith took his time in his college education, which also included a year attending the University of California, Berkeley, before graduating from Pomona College in 1917.

Florence Mildred Dodge was born in Hanford, California on November 16, 1895, to Fred Almyr Dodge and his wife, May Florence Davis. Florence was also a member of the Class of 1917 and a graduate of Pomona College. Smith and Florence were married in December of 1917. The couple would go on to found Decora Ceramics in Inglewood, California, which they later operated and co-owned with their son Wilfred "Bill" Russell. Smith died in 1979 and Florence in 1998.