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Provisions of the Interstate Commerce Act of 1887

Provisions of the Interstate Commerce Act of 1887 The Act outlawed rebates, drawbacks, and pooling . It required the railroads to post the rates in every depot and station and required the rates to be "reasonable and just". The Act contained a Short Haul Pricing Constraint .

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Provisions of the Interstate Commerce Act of 1887

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  1. Provisions of the Interstate Commerce Act of 1887 • The Act outlawed rebates, drawbacks, and pooling. It required the railroads to post the rates in every depot and station and required the rates to be "reasonable and just". • The Act contained a Short Haul Pricing Constraint. • 3. Finally, the act set up a Commission to adjudicate disputes between shippers and the railroads. The Interstate Commerce Commission (ICC) was the first federal government regulatory agency.

  2. William H. Vanderbilt and the “Railroad Problem”

  3. William H. Vanderbilt (8 May 1821 – 8 December 1885)

  4. Investment by American Railroads (From Enterprise Denied, by Albro Martin)

  5. Average Railroad Operating Ratio (Operating Expenses/Operating Revenue)

  6. From: "Changes in Industry and the State of Knowledge as Determinants of Industrial Invention," by Jacob Schmookler. In The Rate and Direction of Inventive Activity.

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