Free State of Galveston but authorities were never able to make the charges stick, and indeed some sources claim that they were genuinely false. Like much of the country, and particularly Texas, Galveston boomed in the 1920s. But even the Great Depression did not stop Galveston's run of prosperity. Despite the financial ruin that faced much of the country during the Depression, not a single Galveston bank failed and unemployment was almost unheard of. Key business sectors in Galveston during the "Free State" era were casinos and prostitution, in addition to many legitimate businesses. During much of the period, the vice industries provided the
History of Galveston, Texas Lewis Moody, Jr., a member of one of Galveston's leading families, founded the American National Insurance Company. Two years later, Mr. Moody would further invest in Galveston by establishing the City National Bank, which would later become the Moody National Bank. A military facility by the US Army Coastal Artillery on Galveston Island was established in the late 1890s and construction, which was disrupted by the Galveston Hurricane of 1900, was completed in the early 1900s, with the facility being named Fort Crockett in 1903. During the First World War, Fort Crockett served as a US Army artillery training center.