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How was the Interstate Commerce Act of 1887 a ‘red letter’ (highly important) law?
It was the first large-scale attempt by Washington to regulate business in the interest of society at large. It heralded the arrival of a series of independent regulatory commissions in the next century, which would irrevocably commit the government to the daunting task of monitoring and guiding the private economy.
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Interstate Commerce Act of 1887- United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices.
Philanthropy- The desire to promote the welfare of others.
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What was the role of the Interstate Commerce Act of 1887?
Because of the ruling in Wabash case, Congress passed the Interstate Commerce Act of 1887, the first federal law to regulate the railroads. the Act established the nation’s first regulatory agency, the interstate commerce commission to investigate and oversee railroad activities.
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The Interstate Commerce Act of 1887 was aimed primarily at
curbing abusive pricing and hauling policies by the nation’s railroads
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The Interstate Commerce Act of 1887
put in place a series of regulations for railroad companies
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