7 3/4 x 12 3/8 in. quarter calf and marbled bound ledger. (Wear to extremities with some chipping). 136 pages in Croghan's hand, of 106 total leaves (some leaves possibly removed at end, minor toning, occasional ink spots); several scraps of paper interleaved, mostly with sums, occasionally names. 

European-American pioneers first encountered the massive cave system at the end of the 18th century and the first deed was filed by Valentine Simons in 1798 who looked to make a profit selling saltpeter. The caves would change several times in the first quarter of the 19th century with most owners invested in saltpeter until demand stagnated after the War of 1812. In 1816, the current owner Hyman Gratz opened the cave as a tourist attraction. 

Franklin Gorin purchased the property in 1838 and brought a number of his enslaved persons to the area to work in the hotel that had been built near the cave entrance and to give tours. The following year Gorin sold the estate, including the enslaved persons, to Louisville physician John Croghan (1790-1849), who set up a tuberculosis hospital deep inside the cave.  

In an experiment to see if the caves would have a positive effect on patients, Croghan set up a colony within the caves with small huts. Unfortunately, the heavy smoke exposure due to the necessary fires for cooking and warmth caused most patients to worsen, with several perishing. Croghan abandoned the experiment by 1843 and focused his attentions on the caves a tourist attraction. The ledger begins during this later period of Croghan's ownership. He notes "cash received in cave" and "cash paid out" quite meticulously, recording names and expenses.