Before 1906, the railways had no competition, so they could set prices as high as they wanted. Prices kept increasing over the years. Finally, on February 8th, 1906, the Hepburn Act was passed with the help of Teddy Roosevelt to regulate the railroad rates.
Hepburn Act
(1906) law that authorized the Interstate Commerce Commission (ICC) to set maximum railroad rates and gave it the power to regulate other companies engaged in interstate commerce.
(1906) law that authorized the Interstate Commerce Commission (ICC) to set maximum railroad rates and gave it the power to regulate other companies engaged in interstate commerce.
This act made sure that people were not getting ripped off with the high prices.
No comments:
Post a Comment