drop database / create database / data still here ?

Hi Folks,

I thought I understood how this worked, but now it's baffling me.
I want to drop a database named coral from my test server and load
a fresh dump of it from my production server.  This has worked when
I've done it before, but now it's giving me fits.  Here's an
example:

coral=# \c postgres
You are now connected to database "postgres".
postgres=# drop database coral;
DROP DATABASE
postgres=# create database coral;
CREATE DATABASE
postgres=# \c coral
You are now connected to database "coral".
coral=# \dt *.*
                            List of relations
        Schema       |              Name              | Type  |  Owner
--------------------+--------------------------------+-------+----------
  accmgr             | acct_rate                      | table | accmgr
  accmgr             | acct_rate_working              | table | accmgr
  accmgr             | acct_sum                       | table | accmgr
  accmgr             | acct_sum_raw                   | table | accmgr
  accmgr             | acct_sum_whatif                | table | accmgr
  accmgr             | acct_sum_working               | table | accmgr
  accmgr             | acct_temp                      | table | accmgr
  accmgr             | eq_rate                        | table | accmgr
  accmgr             | eq_rate_working                | table | accmgr
  accmgr             | inventory_rate                 | table | accmgr
  accmgr             | inventory_rate_working         | table | accmgr
  accmgr             | inventory_surcharge            | table | accmgr
...
(115 rows)

And likewise, select will pull up data from what I thought was a
brand new, empty database.  The coral server was stopped before I
did this so there should have been no active connections at the
time.

This is with:

  PostgreSQL 8.1.18 on x86_64-redhat-linux-gnu, compiled by GCC gcc (GCC) 4.1.2 20080704 (Red Hat 4.1.2-46)

-Mitch