Possible Clues:

• Spectre terrifying to children
• One terrifies child, rattling moneybag
• Worker of course, is not up to par - from the start that's a scary childish horror
• Crew led by colonel into something scary
• Monster used to frighten children
• 'Montego Bay' is played, but not to this devil
• Spirit may be no good when drunk
• Person (real or imaginary) used as a threat to children