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
Port of Galveston Galveston Wharf Company took control of the port in 1869. They built a grain elevator in 1875, leading Galveston to become a major grain exporter over the next few decades. By 1878, the port of Galveston was the nation's 3rd largest cotton exporter; they fell to 5th by 1882. Galveston's wealth and great esteem was due in large part to the port's activity. As other areas of the United States began to transition to a more industrial economy, Galveston was unable to compete. The port continued to primarily export agricultural goods. Local leaders often blamed the lack of industrial goods