The Federal Trade Commission Act of 1914 (15 U.S.C §§ 41-58, as amended) started the Federal Trade Commission (FTC), a bipartisan body of five members appointed by the president of the United States for seven-year terms. This commission was authorized to issue “cease and desist” orders to large corporations to curb unfair trade practices. This Act also gave more flexibility to the U.S. Congress for judicial matters. It passed the Senate by a 43-5 vote on September 8, 1914, and, without a tally of yeas and nays, it passed the House on September 10.
Famous quotes containing the words federal, trade, commission and/or act:
“The Federal Constitution has stood the test of more than a hundred years in supplying the powers that have been needed to make the Central Government as strong as it ought to be, and with this movement toward uniform legislation and agreements between the States I do not see why the Constitution may not serve our people always.”
—William Howard Taft (1857–1930)
“Until the end of the Middle Ages, and in many cases afterwards too, in order to obtain initiation in a trade of any sort whatever—whether that of courtier, soldier, administrator, merchant or workman—a boy did not amass the knowledge necessary to ply that trade before entering it, but threw himself into it; he then acquired the necessary knowledge.”
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—Ralph Waldo Emerson (1803–1882)
“For, truly speaking, whoever provokes me to a good act or thought has given me a pledge of his fidelity to virtue,—he has come under the bonds to adhere to that cause to which we are jointly attached.”
—Ralph Waldo Emerson (1803–1882)