By September 1865 the population was about 40 and by October a store and a hotel were under construction, the balance of buildings were humpies. Rations and grog were plentiful but already one evil was noted: prices for goods were so high that some intended settlers could not stay. The town grew; however currency, both notes and coins, were so short in early Burketown that the business people issued their own currency, dubbed "shinplaster" or "calabashers". These were in the form of IOU's hand printed on tissue paper so that they had as short a life as possible. In February 1866 Lieutenant Wentworth D'Arcy UHR with 8 troopers and accompanied by William Landsborough, the first Police Magistrate, rode into Burketown where everyone carried a pistol and where a successful shop keeper could ride well, shoot well and be an able pugilist. The pioneer spirit was indomitable and the first official race meeting was held 25 July 1866 with prize money at $200 (sic). In October 1868 Towns and Co traded wool, tallow, hides and skins between Sweers Island and Batavia.