largest state in the US both in terms of population and area. Texas is situated in the south central region of the nation and shares borders with the US state of New Mexico, Arkansas, Oklahoma, and Louisiana. The state has a gross domestic product of 1645 trillion dollars based on the 2017 statistic and it is the second leading economy in the United States.
History
Traditionally 4 major commercial enterprises shaped the Texas economy before the WW II: Oil, timber, cotton and cattle and bison. The 1st industry to enjoy great accomplishment in Texas was bison and Texas. During the Anglo-American settlement, hides and furs were the main commodities derived from cattle. The beef was mainly popular in the US. The entrepreneurs in Texas pioneered in the beef industry and demand increased steadily (Limón 674). In the later 1870s and 1880s, the cattle industry enjoyed the greatest financial success. Throughout the 19th century, the cotton industry increased gradually.
1800 to Independence: Early Settlement
In the first phase of settlement and exploration by the Spanish, Texas signified an immense sparsely and unsecured populated region with slight political or economic value. Over about 3 centuries from about 1519 to 1800 the Spanish economy inhabited and only utilized a limited area.
After the independence of Mexico in 1821, a relative tranquility settled over Texas as the government embarked on the reinforcement of order by creating a state-level administration, laws, and constitution. The region of Coahuila linked with territory Texas to convert the state of Coahuila y Texas.
Early Statehood and Independence: Slaves and Cotton
Immediately after liberation, the number of persons in the region continued to rise surpassing 212,000 inhabitants (397 freed Africa Americans, 58161 slaves and 154034 whites) in first US Census held in 1850. Many immigrants originated from the Southern States mainly in Georgia, Virginia, and Tennessee. The leaders of the three states united to form a constitution in 1845. The southwest immigrants were specialists in the growth of cotton. In this case, the southwest immigrants brought an increasing number of slaves (Calvert et al. 28). Based on the senses that were held in 1848 there were about 42455 slaves in the state. However, the number of slaves increased rapidly, in 1850 there were about 58161 slaves. The production of cotton boomed in Texas in 1849 to 1859 and so did the number of slaves.
Civil War to World War: Oil and Railroads
The cotton production continued to blossom from the immediately after the end of the civil war. The period was also marketed by massive immigration from Europe and Deep South, the perfection of the cotton compression at a closer proximity to the railway line to facilitate faster transport, the inventing of cotton ginning, the extension of the railway roads, and the discovery of the barbed wire and the elimination of the natives from the major cotton growing areas.
The production of cotton became a major pillar of the Texas economy drawing huge technology development, labor power, and considerable investment capital. Other sectors in the agricultural sectors also achieved tremendous success in the 19th
century this included the corn, timber, and ranching. The cotton industry blossomed until the 1920s when it started to decline as a result of the great depression, the federal government’s attempt to hold down production with the objective of maintaining the price, the rise in other centers of cotton production in the world and the decline in the supply of labor power during WW2.
As the railway network continued to expand in the 19th century across the high plains and panhandle of West Texas, the power of the farmers in the coffee sector increased. At first, the removal of the cotton compresses from the seaport to rail sidings and the growth of the railroad services enabled the cotton farmer to increase production. The hostility between the ranchers and the coffee farmers grew.
In the initial years of the 20th century, cotton started to decline an oil started assuming increasing prominence. The vast oil sector started to dominate they included the oil and the pipelines of the Gulf coast. The manufacturers such as Henry Ford transformed the automobile sector into a mass production sector (Krochmal 552). The growth in the manufacturing sectors caused the Texas oil industry to also grow. By 1929, 4 Texas States, Arkansas, Louisiana, and Oklahoma accounted for about sixty percent of all the oil that is generated in the US.
The increased production of natural gas and oil played a crucial role in the diversification of the economy of Texas State that was in the past dominated by farming. The prominence of cotton persisted but at a reduced level in the era. The prices of cotton declined, while the vegetables and new fruits harvested by the increasing immigrants from Mexico grew in importance.
The Modern Texas Economy: Technology, Retain and Travel
The natural gas and oil production bestowed diversification and new economic importance of the economy of Texas. Nonetheless, they only bestowed the state's dependence on the creation of the primary commodities- ranching, agriculture, timber, and mining (including natural gas and oil production).
The energy sector is still bulging in the state, as the agriculture, ranching and agricultural related industries such as cotton ginning. Some of the industries such as technology (including telecommunications, aerospace, and computers), entertainment, and airline have developed to substantial distinction. Most of these sectors have received extensive dollars and support from the national government mainly the aerospace inputs. The international and even the national politics led to playing an important role here. Space and the arms race led to the formation of NASA. The Aerospace sector has experienced immense development in linked industries such as the airline, IT, and the telecommunication sector and the traveling reserve industries.
Conclusion
At the present, some of the major organizations operating in the state fall under the manufacturing and retail sectors (for instance international paper, Coca Cola, and office depot). The companies represent a considerable level of production and employment. Although the Texas-based firms are not the biggest in their respective industries, they form a major economic base. The high tech sector includes recognized brands such as the chip maker Texas Instruments, the telecommunication giants AT"T, and the leading computer manufacturer deal. The three firms are the leading employers in the state of Texas.
Works Cited
Calvert, Robert A et al. The History Of Texas. 5th ed., Wiley Blackwell, 2014.
Krochmal, Max. Blue Texas: The Making Of A Multiracial Democratic Coalition In The Civil Rights Era. University Of North Carolina Press, 2016, p. 552.
Limón, José E. "Texas Identities: Moving Beyond Myth, Memory, And Fallacy In Texas History Ed. By Light Townsend Cummins And Mary L. Scheer". Journal Of Southern History, vol 83, no. 3, 2017, pp. 673-675. Johns Hopkins University Press, doi:10.1353/soh.2017.0177.
