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. It also required that railroads publicize shipping rates and prohibited short haul/long haul fare discrimination, a form of price discrimination against smaller markets, particularly farmers. The Act created a federal regulatory agency, the Interstate Commerce Commssion (ICC), which it charged with monitoring railroads to ensure that they complied with the new regulations.
The Act was the first federal law to regulate private industry in the United States. It was later amended to regulate other modes of transportation and commerce.
Read more about Interstate Commerce Act Of 1887: Background of The Act, Jurisdiction of The Act
Famous quotes containing the words interstate commerce, interstate, commerce and/or act:
“At bottom, I mean profoundly at bottom, the FBI has nothing to do with Communism, it has nothing to do with catching criminals, it has nothing to do with the Mafia, the syndicate, it has nothing to do with trust-busting, it has nothing to do with interstate commerce, it has nothing to do with anything but serving as a church for the mediocre. A high church for the true mediocre.”
—Norman Mailer (b. 1923)
“At bottom, I mean profoundly at bottom, the FBI has nothing to do with Communism, it has nothing to do with catching criminals, it has nothing to do with the Mafia, the syndicate, it has nothing to do with trust-busting, it has nothing to do with interstate commerce, it has nothing to do with anything but serving as a church for the mediocre. A high church for the true mediocre.”
—Norman Mailer (b. 1923)
“Indeed, I believe that in the future, when we shall have seized again, as we will seize if we are true to ourselves, our own fair part of commerce upon the sea, and when we shall have again our appropriate share of South American trade, that these railroads from St. Louis, touching deep harbors on the gulf, and communicating there with lines of steamships, shall touch the ports of South America and bring their tribute to you.”
—Benjamin Harrison (1833–1901)
“Mothers who are strong people, who can pursue a life of their own when it is time to let their children go, empower their children of either gender to feel free and whole. But weak women, women who feel and act like victims of something or other, may make their children feel responsible for taking care of them, and they can carry their children down with them.”
—Frank Pittman (20th century)