As Orlando entered the 20th century, citrus and agriculture surpassed cattle ranching as the mainstays of the local economy. Stray cows no longer had to be shooed from the railway tracks. Streets were being paved and electricity and telephone service installed. The population at the turn of the 20th century was 2,481. In 1902, the city passed its first automobile laws, which included an in-town speed limit of 5mph. In 1904, the city flooded. And in 1905, it suffered a drought that ended -- miraculously or coincidentally -- on a day when all faiths united at the local First Baptist Church to pray for rain. By 1910, prosperity returned, and Orlando, with a population of nearly 4,000, was in a small way becoming a tourism and convention center. World War I brought further industrial growth and a real-estate boom, not just to Orlando, but to all of Florida. Millions of immigrants, speculators, and builders descended on the state in search of a quick buck. As land speculation reached a fever pitch and property was bought and resold almost overnight, many citrus groves gave way to urbanization. Preeminent Orlando builder and promoter Carl Dann described the action: "It finally became nothing more than a gambling machine, each man buying on a shoestring, betting dollars a bigger fool would come along and buy his option."

Quite suddenly, the bubble burst. A July 1926 issue of the Nation provided the obituary for the Florida land boom: "The world's greatest poker game, played with lots instead of chips, is over. And the players are now . . . paying up." Construction slowed to a trickle, and many newcomers who came to Florida to jump on the bandwagon fled to their homes in the North. Though Orlando wasn't quite as hard hit as Miami -- scene of the greediest land grabs -- some belt-tightening was in order. Nevertheless, the city managed to build a municipal airport in 1928. Then came a Mediterranean fruit-fly infestation that crippled the citrus industry. Hundreds of thousands of acres of land in quarantined areas had to be cleared of fruit and vast quantities of boxed fruit were destroyed. The 1929 stock market crash that precipitated the Great Depression added an exclamation point to Florida's ruined economy.