The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. The Act required that railroad rates be "reasonable and just," but did not empower the government to fix specific rates. It also required that railroads publicize shipping rates and prohibited short haul or long haul fare discrimination, a form of price discrimination against smaller markets, particularly farmers in Western or Southern Territory compared to the Official Eastern states. The Act created a federal regulatory agency, the Interstate Commerce Commission (ICC), which it charged with monitoring railroads to ensure that they complied with the new regulations.
With the passage of the Act, the railroad industry became the first industry subject to federal regulation by a regulatory body. It was later amended to regulate other modes of transportation and commerce.
*1)The railroad opened the way for the settlement of the West, provided new economic opportunities, stimulated the development of town and communities, and generally tied the country together.
*2)Railroads became a major industry, stimulating other heavy industries such as iron and steel production. These advances in travel and transport helped drive settlement in the western regions of North America and were integral to the nation's industrialization
Answer: The Marshall Plan sent more than $13 billion in aid to Western Europe. ... The May 1948 issue of Kiplinger was devoted to taking advantage of the Marshall Plan's economic ripple effect.
