Robert the Bruce had stationed his baggage on Gillies Hill prior to the battle of Bannockburn.
The "gillies" or servants and followers of the camp were charged with looking after all this baggage.
Although the Scots were heavily outnumbered, this battle raged for two days on the 23rd and 24th of June 1314 initially with neither side gaining control but eventually because of superior tactics in the boggy ground, which did not suit the heavy English Cavalry, the English formations began to break, at this a great shout went up from the Scots, "Lay on! Lay on! Lay on! They fail!" This cry was heard by Bruce's camp followers, who promptly gathered weapons, banners, pots and pans, anything they could and charged forward. To the English army, close to exhaustion, this appeared to be a fresh reserve and they lost all hope. The English forces north of the Bannockburn broke into flight. Some tried to cross the River Forth where most drowned in the attempt.
This path to the cache is the exact footpath which the gillies took.