There were two competing claimants for the original settlement of Dallas; they produced conflicting surveys resulting in the doglegged streets that persist today in Downtown. Dallas is a byword for brash Texas glitz epitomized by the eponymous soap opera. After one major boom and bust based on cotton in the 1890s, by 1930 the Great Depression was beginning to bite. At this point oil was discovered at Kilgore to the east of the city. Dallas’s banks became prime financiers to the oil boom, pioneering loans collateralized against reserves, before overproduction produced another bust. Wartime industrial production sparked a recovery, and a post-war technology boom led by companies like Texas Instruments, saw rapid expansion through upscale suburbs like Highland Park and the absorption of surrounding municipalities. After the unwanted notoriety of the Kennedy assassination, the 1970s saw another boom in real estate, followed by yet another bust in the 1980s Saving and Loans crisis.
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