The town was first settled at Acton village in 1776 by Benjamin Kimens, Clement Steele and John York, all from York. In 1779, Joseph Parsons built a gristmill on the Salmon Falls River near Wakefield, New Hampshire. Other mills followed at Acton's various water power sites, including sawmills, gristmills, a hemp mill, a carding mill, a felt mill, a tannery and a shoe factory. In 1877, a vein of silver was discovered near Goding Creek and the Lebanon border. Prospectors dug mines during the 1880s, after which the enterprise declined.