THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Sherman Anti-trust Act
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Interstate Commerce Act
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Social Darwinism
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Horizontal Integration
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Detailed explanation-1: -Federal regulation of businesses officially began in 1887, with the passing of the Interstate Commerce Act. This created the first independent regulatory commission.
Detailed explanation-2: -On February 4, 1887, both the Senate and House passed the Interstate Commerce Act, which applied the Constitution’s “Commerce Clause”-granting Congress the power “to Regulate Commerce with foreign Nations, and among the several States”-to regulating railroad rates.
Detailed explanation-3: -John Stevens is considered to be the father of American railroads. In 1826 Stevens demonstrated the feasibility of steam locomotion on a circular experimental track constructed on his estate in Hoboken, New Jersey, three years before George Stephenson perfected a practical steam locomotive in England.