Being a bit of an historian and having more than a passing interest in plant medicines, the find peaked my interest.
Indian root is likely Wahoo (Euonymus atropurpureus), a common herb in Native American medicine used as a laxative. Most cure-alls from the 18th and 19th centuries were alteratives, blood cleansers and the like – meaning they largely worked on the bowel or other eliminative organs. The Morse would be “Dr Morse” the patented name used by the maker Comstock. Interestingly it appears there really never was a Dr Morse who formulated the pills. The originator appears to be a Mr Andrew B. Moore. Comstock and Brother even went to the lengths of fabricating the story of the fictitious Morse discovering the elixir, complete with photographs of the good doctor and his family. The fascinating history of “The Comstock Patent Medicine Business and Dr. Morse's Indian Root Pills” is available online care of the Gutenberg Project.
Comstock’s Morses (sic) Indian Root Pills were first manufactured by the American firm in the mid-1850’s but their popularity peaked in Australia in the 1920’s. An Australian calendar for 1927 bore an advertisement for the pills claiming them to be "Australia’s National Remedy”. Perhaps too much white flour, lamb and lard makes this a constipated nation?
But we won’t be calling “Time Team” just yet, as the Comstock Indian Root Pills are one of the most common bottles found in Australia, with minimal value.
If you are interested here is
Another Aussie site featuring the pills.