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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Interstate Commerce Commission
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Sherman Anti-trust act
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Railroad Commission
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Laissez Faire
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Detailed explanation-1: -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-2: -The Commerce Clause also permits Congress to regulate wholly local, intrastate economic activities that in the aggregate “substantially affect” interstate commerce. . . .
Detailed explanation-3: -The ICC, the first regulatory commission in U.S. history, was established as a result of mounting public indignation in the 1880s against railroad malpractices and abuses. The ICC’s jurisdiction was gradually extended beyond railroads to all common carriers except airplanes by 1940.