DeSoto was platted on this site in 1854 and incorporated in 1855, when steamboating on the Missouri was in its heyday and the town served as a landing for passengers and goods. Boats including the Cora and Bertrand sank nearby. Seeking to make DeSoto a gateway to the West, local citizens operated a ferry in 1857 and later promoted a railroad connection with Fremont, with track laid as far as present Blair. By 1857 the town had grown to several hundred people, with fifteen businesses including hotels, saloons, stores, newspapers, and banks. DeSoto served as county seat from 1858 to 1866, but its decline began in 1859 when many residents left for the Colorado gold fields. After the Panic of 1857, its three banks closed. The Sioux City and Pacific Railroad bought the DeSoto line's franchise, crossed the river three miles north of DeSoto, and established Blair in 1869, ending DeSoto's hopes for growth. Residents departed for other communities, and some later became prominent in Nebraska's judicial, political, and financial circles. Today the Fort Calhoun Power Station stands in an area where the Missouri River once flowed.