Money Point, Downsville NY

In W.W. Munsell’s 1880 ‘s “History of Delaware County” he retells a story told to him by Downsville native Louis Williams:

“He also told of a noted Tory robber named Reuben Peters, who had his den beside the Indian village near Downsville in 1778. In one of his forays into Schoharie he had got a considerable amount of gold and silver coin, which he hid in the ground on the hill back of the village, marking the place by cutting the letters R. P. on a beech tree in the neighborhood. Peters was mortally wounded in one of his exploits soon afterwards, and he told a comrade of the coin and its place of concealment. Williams had often seen the letters on the tree. The high mountain top north of Downsville called Money Point derived its name from this circumstance. It is hardly necessary to add that although many a search has been made for the treasure it still remains where R. P. placed it.”