Interstate Commerce Commission

(noun)

A regulatory body in the United States created by the Interstate Commerce Act of 1887 with the purpose of regulating railroads (and later trucking) to ensure fair rates, to eliminate rate discrimination, and to regulate other aspects of common carriers, including interstate bus lines and telephone companies.

Related Terms

Examples of Interstate Commerce Commission in the following topics:

  • The Square Deal

    • Instead, the Interstate Commerce Commission would control the prices that railroads could charge.
    • The Hepburn Act authorized the Interstate Commerce Commission to set maximum railroad rates and to stop the practice of giving out free passes to friends of the railway interests.
    • In addition, the Interstate Commerce Commission could examine the railroads' financial records, a task simplified by standardized booking systems.
    • For any railroad that resisted, the Interstate Commerce Commission's conditions would be in effect until a legal decision of a court was issued.
    • Through the Hepburn Act, the Interstate Commerce Commission's authority was extended to bridges, terminals, ferries, sleeping cars, express companies, and oil pipelines.

  • Separation of Powers

    • Bodies such as the War Claims Commission, the Interstate Commerce Commission, and the Federal Trade Commission all have direct Congressional oversight.
    • Bodies such as the War Claims Commission, the Interstate Commerce Commission, and the Federal Trade Commission all have direct Congressional oversight.

  • Government Involvement

    • Congress enacted a law regulating railroads in 1887 (the Interstate Commerce Act), and one preventing large firms from controlling a single industry in 1890 (the Sherman Antitrust Act).
    • Many of today's U.S. regulatory agencies were created during these years, including the Interstate Commerce Commission, the Food and Drug Administration, and the Federal Trade Commission.
    • Programs and agencies that today seem indispensable to the operation of the country's modern economy were created: the Securities and Exchange Commission, which regulates the stock market; the Federal Deposit Insurance Corporation, which guarantees bank deposits; and, perhaps most notably, the Social Security system, which provides pensions to the elderly based on contributions they made when they were part of the work force.

  • Government Regulation

    • At the federal level, one the earliest institutions was the Interstate Commerce Commission which had its roots in earlier state-based regulatory commissions and agencies.
    • Later agencies include the Federal Trade Commission, Securities and Exchange Commission , Civil Aeronautics Board, and various other institutions.
    • The Securities and Exchange Commission is an example of a government regulatory agency.

  • Deregulating Transportation

    • In the process of transportation deregulation, Congress eventually abolished two major economic regulators: the 109-year-old Interstate Commerce Commission and the 45-year-old Civil Aeronautics Board.

  • From Competition to Consolidation

    • But, over time, many state railroad laws were struck down because they interfered with interstate commerce, which only Congress may regulate constitutionally.
    • The consequence was federal legislation: the Interstate Commerce Act of 1887 established the first federal administrative agency, the Interstate Commerce Commission.

  • The Federal Communications Commission

    • The Federal Communications Commission (FCC) is an independent regulatory agency of the United States government.
    • The Federal Communications Commission (FCC) is an independent regulatory agency of the United States government created by Congressional statute, with the majority of its commissioners appointed by the current president .
    • The FCC took over wire communication regulation from the Interstate Commerce Commission.
    • In 1934, Congress passed the Communications Act abolishing the Federal Radio Commission and transferring jurisdiction over radio licensing to a new Federal Communications Commission.
    • The Federal Communications Commission (FCC) has promised to ensure fairness in broadcasting.

  • The Progressive Era

    • Congress enacted a law regulating railroads in 1887 (the Interstate Commerce Act) and one preventing large firms from controlling a single industry in 1890 (the Sherman Antitrust Act).
    • Many of today's U.S. regulatory agencies were created during these years including the Interstate Commerce Commission and the Federal Trade Commission.

  • The Republican Era

    • Coolidge left the administration's industrial policy in the hands of his activist Secretary of Commerce, Herbert Hoover, who energetically used government auspices to promote business efficiency and develop airlines and radio.
    • With the exception of favoring increased tariffs, Coolidge disdained regulation, and carried on this belief by appointing commissioners to the Federal Trade Commission and the Interstate Commerce Commission who did little to restrict the activities of businesses under their jurisdiction.
    • The Republicans retained the White House in 1928 in the person of Coolidge's Secretary of Commerce, Herbert Hoover.
    • Even so, Coolidge had no desire to split the party by publicly opposing the popular commerce secretary's nomination.

  • Regulation

    • Congress enacted a law regulating railroads in 1887 (the Interstate Commerce Act), and one preventing large firms from controlling a single industry in 1890 (the Sherman Antitrust Act).
    • Many of today's U.S. regulatory agencies, including the Interstate Commerce Commission and the Federal Trade Commission, were created during these years