Why did Congress create the ICC?
The ICC was created by the interstate commerce act of 1887 (24 Stat. 379 [49 U.S.C.A. Congress established the ICC to control the powerful railroad industry, then plagued by monopolistic and unfair pricing practices that often discriminated against smaller railroads and businesses as well as individual consumers.
What was the main purpose of the Interstate Commerce Act?
The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. The Act required that railroad rates be “reasonable and just,” but did not empower the government to fix specific rates.
What was the main purpose of the Interstate Commerce Act of 1887 quizlet?
What was the main purpose of the Interstate Commerce Act of 1887? The Interstate Commerce Act was created to limit the monopolistic practices of the railroad industry.
What problem did the Hepburn Act solve?
The Hepburn Act is a 1906 United States federal law that gave the Interstate Commerce Commission (ICC) the power to set maximum railroad rates and extended its jurisdiction. This led to the discontinuation of free passes to loyal shippers….Hepburn Act.
|Acts amended||Interstate Commerce Act of 1887|
What did the Hepburn Act do for fairness?
The Hepburn Act of 1906 It gave ICC decisions the force of law rather than requiring rulings to be enforced by the courts. The law also authorized the ICC to establish maximum “fair, just, and reasonable” rates.
What was the significance of the Hepburn Act?
The Hepburn Rate Act was intended to give power to the Interstate Commerce Commission (ICC) to regulate railroad shipping rates.
What was the purpose of the Sherman Antitrust Act of 1890 quizlet?
-Passed in 1890, the Sherman Antitrust Act was the first major legislation passed to address oppressive business practices associated with cartels and oppressive monopolies. The Sherman Antitrust Act is a federal law prohibiting any contract, trust, or conspiracy in restraint of interstate or foreign trade.