Instructions: Identify the Following

Question

Examlex · Accepted Answer

The Answer is The Hepburn Act is a significant piece of United States federal legislation that was passed by Congress and signed into law by President Theodore Roosevelt on June 29, 1906. Officially known as "An Act to Amend an Act entitled 'An Act to regulate commerce,' approved February fourth, eighteen hundred and eighty-seven, and all Acts amendatory thereof, and to enlarge the powers of the Interstate Commerce Commission," the Hepburn Act aimed to strengthen federal regulation of the nation's railroads.

The significance of the Hepburn Act lies in its expansion of the powers of the Interstate Commerce Commission (ICC), which was originally established by the Interstate Commerce Act of 1887. Before the Hepburn Act, the ICC had limited authority and was largely ineffective in regulating railroad rates. Railroads were often accused of charging unfair and discriminatory rates, and there was widespread public demand for stronger government oversight.

Key provisions of the Hepburn Act included:

1. Empowering the ICC to set "just and reasonable" maximum railroad rates and to examine railroad's financial records.
2. Extending the ICC's jurisdiction to include bridges, terminals, ferries, sleeping cars, express companies, and oil pipelines.
3. Prohibiting free passes and rebates, practices that were seen as corrupt and anti-competitive.
4. Requiring railroads to adopt uniform accounting systems, making it easier for the ICC to assess financial practices and rates.
5. Allowing the ICC to initiate rate cases on its own initiative, rather than waiting for shippers to lodge complaints.

The Hepburn Act represented a significant step forward in the Progressive Era's efforts to regulate big business and protect the public interest. It was part of President Roosevelt's "Square Deal" program, which aimed to ensure fairness for workers, consumers, and businesses. The Act helped to curb monopolistic practices in the railroad industry and laid the groundwork for further regulatory legislation in the 20th century. It was a key moment in the history of federal regulatory policy, demonstrating an increased willingness by the government to intervene in the economy to promote fairness and competition.

Instructions: Identify the Following

Short Answer

Correct Answer:
Answered by ExamLex AI

Instructions: Identify the Following

Short Answer

Correct Answer:Answered by ExamLex AIShow Answer

Correct Answer:
Answered by ExamLex AI