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As Neko Case did recently, Portland’s Colin Meloy has turned to an ancient folk tale for inspiration—with wondrous results. The Decemberists’ leader has made the story of a Japanese peasant and his magical bird into the epic title track of his band’s latest album. With other songs exploring themes of murder (the grisly “Shankhill Butchers”) and romance (the gorgeous “Yankee Bayonet,” which the hyper-literate Meloy calls a “Civil War-era ghost love story”) the collection amounts to a modest prog-folk masterpiece.  

Colin Meloy has always had a vivid imagination. When he was in Grade Two, he wrote a play called The Bloody Knight, about a ghost that haunts a forest by a medieval castle. “It was particularly gruesome,” recalls Meloy cheerfully. “The ghost ends up slaughtering all of the knights at the castle.” The play was staged at his elementary school in Portland, Oregon for an audience of students and teachers. “Thankfully,” adds Meloy, “I had a really supportive teacher who didn’t seem too bothered by all the violence. These days, I’m sure that sort of thing would be cause for some concern within the educational system.” Fortunately, Meloy later found another creative outlet for his wild stories: The...