Question

What was the significance of the Interstate Commerce Act that was passed by Congress in 1887?

Answer 1

Interstate Commerce Act (1887)
In 1887 Congress passed the Interstate Commerce Act, making the railroads the first industry subject to Federal regulation. Congress passed the law largely in response to public demand that railroad operations be regulated. The act also established a five-member enforcement board known as the Interstate Commerce Commission. In the years following the Civil War, railroads were privately owned and entirely unregulated. The railroad companies held a natural monopoly in the areas that only they serviced

Answer 2

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