Boom and Bust Cycles in Texas

In , the Texas Congress authorized a charter for the first building of a railroad in Texas.

A rail commission was created to the growth of the rail industry.

The growth of railroads resulted from the .

Today, and are mainly transported by rail and many of the rail companies in the state have or are no longer in the state.

The cattle industry has been important in Texas for nearly three hundred years. The brought cattle with them when settling the area.

Ranching became a enterprise.

In the 1880s, there was "" for the cattle industry. In the late 1880s conflict developed between small and large ranchers and the need for land that was sometimes limited by - fenced areas. By the end of the century open area grazing had almost ended, with - ranching.

A second boom for the cattle industry occurred before , but prices declined and a slump occurred in the 1920s.

- farming also became important for the cattle industry. cattle raising increased and farming declined during the 1960s and 1970s. Prices for beef rose in the 1980s and declined in the 1990s.

Today the cattle industry is recognized for its commercial and industries. Ranches have shifted the use of their properties.

The first oil field opened in Texas in the last century. The "oil boom" was also called the " " and led to Texas's becoming a leading oil-producing state.

By , Texas led the United States in oil production. There were wide swings in the prices of oil but they began to in the 1940s when Texas transitioned into an state.

Petroleum prices rose again in the 1970s and 1980s during the . Stagnant prices and rising costs resulted in downsizing of the petroleum sites.

The were the first to grow cotton in Texas.

In the later part of the nineteenth century, the cotton industry was stimulated by an influx of into central Texas, the improvement of transportation, and the development of the and .

The arrival of the caused much devastation to the industry.

Today, there are farms producing cotton but the cotton-producing farms are than before. There are also better, and more, and control methods.

The real estate market responds to conditions and to the need for . The real estate boom occurred during the boom. When prices skyrocketed and caused a decline in the industry, the housing market was also affected.

When Texas became a center for and , the larger cities were revitalized and real estate sales and prices .

The first bank, which was the first chartered bank west of the Mississippi River, was established in Texas in . The first commercial bank in Texas was established in and provided loans for the .

The state's 1845 prohibited the incorporation of banks but many merchants performed banking functions and there were many throughout the state. The only chartered bank in the state before the Civil War was established in 1847 in .

After , banks were established by special acts of the legislature. The state constitution was amended to permit state banks.

practices, overextension of , decline in prices, problems in the and industry, and speculation in the sector caused damage to the banking industry.

Computer technology services accounts for approximately % of the employment in the information technology sector.

In 2012, Texas was ranked No. in the United States for employment in the computer systems sector.