Like dozens of other little towns in Ohio, it was planned as a gathering place for tradesmen which farmers hoped to lure here from the east to serve them. The town went through the usual turbulent period when justice was administered with a pistol. In the early days, the town offered an excellent hiding place for many men who were evading the law.

By 1870 industries had started to flourish. Between 1870 and 1900 the town had acquired a blacksmith and grain dealers. Later H. W. Matthews began operating a saw mill, one of the first circular saw mills in this section of the country.

Bascom is famous for its dance pavilion featuring 7,000 square feet of dancing space and a promenade that sorrounds the dance floor seating 650 people. This pavilion dates back to the 1930's and was the site of many of the "Big Bands" including Stan Kenton, Les Brown and Glen Miller. Today it is "The Place" for ballroom dances, wedding receptions and parties.