Question

Under the Hepburn Act of 1906, the railroads worked with the Interstate Commerce Commission (ICC) to set rates and regulations that increased competition and prevented new competitors from entering the industry. True or false?

Answer 1

Answer:

True

Explanation:

The federal law gave the Interstate Commerce Commission (ICC) the power to set maximum railroad rates and extended its jurisdiction which led to the discontinuation of free passes to loyal shippers.

The ICC could view the financial records of the railroads' which was simplified by standardized bookkeeping systems. The outcome of the law could apply to any railroad that resisted and the ICC's conditions would remain in effect. The ICC's jurisdiction was extended to the following:

- bridges

- terminals

- ferries

- railroad sleeping cars

-  express companies and oil pipelines.