Question

What was the significance of the interstate commerce commission?

1) It was the first government attempt to restrain trade unions.

2) it was the first government body to set railroad schedules.

3) it was the first government body to monitor business operations.

4) it was the first government attempt to outlaw interstate trade.

Answer 1

The correct answer is "It was the first government body to monitor business operations.".

The Interstate Commerce Commission was a regulatory agency created in 1887 with the purpose of regulating railroads that connected the states throughout the country. It aimed to ensure fair transportation rates and eliminate rate discrimination. The telephone industry was also monitored by this agency. It was abolished in 1995 and some of its functions were transferred to Surface Transportation Board.

Answer: 3)