Treasure in Lake Monona?

While doing some research on Lake Monona watershed, the Madison area's climate, lake levels, and flooding, I came across this odd ball:

Lake Monona's Gold

We all know that Lake Monona contains quite a bit of Madison, Wisconsin's history. But, did you know that according to historians there is a chest of gold at the bottom of Lake Monona? According to the legend, paymasters for the Army were escaping from Indians on the lake and dumped the chest to avoid being captured. This happened sometime in the year 1828. The chest has never been found.

Lake Monona's Gold - Midwest Lakes Policy Center :: Clear Vision ...

This sounds like nonsense to me. Madison had not been founded yet and doubt the army was much present.

Keybard is dyin....