The Treasure is Lost is the ninth episode of the first season.
The script for this episode was lost, but fans recall that the characters were searching for treasure, and just when they found it, they lost it, and then tried numerous times to get it back.
This episode was more of a traditional pirate story, and even begun with the crew finding a treasure map in the Salty Sea that was left behind by some other pirates. The characters at one point sing "15 Men on a Dead Man's Chest". It was mostly a string of gags, though, including Ms. Laughingstock getting stuck in a tree, and the crew using a balloon to get her out.