The Interstate Commerce Act of 1887 is a United States federal statute that was the first federal law to regulate a private industry, specifically the railroads, in response to widespread public complaints about discriminatory freight rates and monopolistic practices. It required that railroad rates be reasonable and just, prohibited certain forms of price discrimination such as charging more for a short haul than a long haul over the same line, and banned pooling arrangements among competing railroads. The act created the Interstate Commerce Commission, the first independent federal regulatory agency in United States history, to oversee compliance and investigate complaints, although the commission's early enforcement powers proved limited until later amendments strengthened them. The Interstate Commerce Commission itself was abolished in 1995, with its remaining functions transferred to the newly created Surface Transportation Board.
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Legal Statussuperseded, enforcing commission abolished 1995 1 the enforcing agency it created, the Interstate Commerce Commission, was abolished in 1995; the act's core rate provisions were carried into later transportation law Legal Status (category)Category derived from this entry's own free-text property; the source property's own status (partially-attested) carries whatever is unresolved, this derived category fact makes no further claim beyond bucketing that same text. Enacted Year Enacted Date Jurisdiction Enacted By49th United States Congress, signed by President Grover Cleveland 1 Connections
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Both are early federal statutes regulating commerce and competition.
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Source Interstate Commerce Act of 1887, WikipediaLead paragraph of the cited Wikipedia articleQuote, Lead paragraph of the cited Wikipedia article
The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices.
Sources
1. Interstate Commerce Act of 1887, Wikipedia
Background of the act section
Supreme Court ruled that state laws regulating interstate railroads were unconstitutional because they violated the Commerce Clause of the Constitution, which gives Congress the exclusive power "to regulate Commerce with foreign nations, and among the several States, and with the Indian Tribes." With many of those questions of approach decided, Congress passed the Interstate Commerce Act the following year; it was signed into law by President Grover Cleveland on February 4, 1887.
Enacting body section
the 49th United States Congress enacted this legislation
Enacting body / signature section
the 49th United States Congress enacted this legislation; President Grover Cleveland signed it on February 4, 1887
Legacy section
the Interstate Commerce Commission was abolished, and many of its remaining functions were transferred to a new agency, the Surface Transportation Board
In Group: United States Trade, Finance and Land Statutes, Introduction, sentence 1
The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices.
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