United States 1887

Synopsis

The U.S. Congress created the Interstate Commerce Commission (ICC) in 1887 as the first independent regulatory agency of the federal government. The ICC was a response to mounting public protests over perceived malpractices and abuses of the railroad industry. The Interstate Commerce Commission Act, which stated that it would promote interstate commerce within the United States, drafted the organization's charter.

The commission would use the rules and regulations of the act to assure fair interactions between the various transportation carriers and the public, apply impartial technical expertise to the regulation of commerce situations, and discourage monopolies. The ICC's first cases involved the railroad industry and were specifically concerned with preventing the railroads from charging excessive rates and engaging in discriminatory practices.

Timeline

• 1867: United States purchases Alaska from Russia for $7.2 million...