[1] Established primarily as a venue for historical documents of interest, particularly on Indiana's territorial period and early statehood, today it publishes a range of scholarly articles, reviews, roundtables and interviews on the history and changing cultures of Indiana and the Midwest, from the early encounters of Europeans and Native Americans to the present.

In 1913, when Logan Esarey succeeded Cottman as editor, the magazine began its affiliation with Indiana University and adopted its current name.

Under Esarey the journal started to focus on historical interpretation and analysis in addition to reproduction of printed sources.

The transition was completed under the editorships of John Barnhart (1941 – 1955), who long-time associate editor Lorna Lutes Sylvester said brought an "aura…of sophisticated scholarship" to the journal, and Donald F. Carmony (1955-1975), whose service to Indiana University was recognized in 2002 by the creation of a chaired professorship in the IU history department.

[3] Aside from its longevity, the journal is notable for its efforts in bringing together professional and amateur historians as both contributors and readers, while still remaining a decidedly academic endeavor.