Teddy and the Railroads
This picture shows Teddy flexing his political muscles and is causing the railroads to flee to congress. Congress in 1886 created the ICC the interstate Commerce Commission which at first wasn't so much of a big deal until the Elkins act came along. The Elkins act made it so that shipping and freight companies couldn't give large rebates to their rich customers. This made it so that railroads set their own rates; this act also increased the iCC's powers of regulation.
Official
In 1886 Congress created the Interstate Commerce Commission (ICC) to regulate
interstate commerce, but had not granted the ICC much power to enforce the
statutes and punish violators.
In 1903, the Elkins Anti-Rebate Act forbade the railroad carriers from
giving large and powerful clients rebates on their shipments; rebates which
differed from the published freight tariffs.
The Elkins Act had a double effect: it allowed the railroads to set their
rates according to market conditions, and it enlarged the regulatory powers of
the ICC.
In 1902, Attorney General Philander Knox also sued the Northern Securities
Co, an amalgamation of several railroads, which was subsequently found to be in
breach of U.S. Antitrust Statutes.
interstate commerce, but had not granted the ICC much power to enforce the
statutes and punish violators.
In 1903, the Elkins Anti-Rebate Act forbade the railroad carriers from
giving large and powerful clients rebates on their shipments; rebates which
differed from the published freight tariffs.
The Elkins Act had a double effect: it allowed the railroads to set their
rates according to market conditions, and it enlarged the regulatory powers of
the ICC.
In 1902, Attorney General Philander Knox also sued the Northern Securities
Co, an amalgamation of several railroads, which was subsequently found to be in
breach of U.S. Antitrust Statutes.