What did the Interstate Commerce Act of 1886 require of railroad rates?

The Interstate Commerce Act of 1886 was a landmark piece of legislation aimed at regulating the railroad industry, which had significant power over shipping rates and practices at the time. The act specifically required that railroad rates be "reasonable and just," reflecting a response to the widespread public concern about monopolistic practices and unfair pricing by railroad companies. This legislation established the principle that the federal government had the authority to oversee and regulate private industry to protect the interests of consumers and promote fair competition.

The focus on reasonable and just rates indicated a shift towards ensuring that customers, including farmers and small businesses, had more equitable access to transportation services without being exploited through exorbitant charges. This marked an important development in the evolution of regulatory policy in the United States and set a precedent for future legislation aimed at controlling the influence of powerful industries.

Understanding this requirement helps contextualize the broader efforts during this period to manage the growth of big business and improve economic justice, distinguishing the act as a crucial step in establishing federal oversight in the marketplace.