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The Hepburn Act is a 1906 United States federal law that expanded the jurisdiction of the Interstate Commerce Commission (ICC) and gave it the power to set maximum railroad rates. This led to the discontinuation of free passes to loyal shippers. [ 1 ]
The main role of the Bureau was to study and report on industry, looking especially for monopolistic practices. Its 1906 report on petroleum transportation made recommendations that became part of the Hepburn Act of 1906, and was used when the Justice Department successfully prosecuted and broke up Standard Oil in 1911.
For the first time in American history, through the Hepburn Act, the power to enact price controls was passed into law. [19] [20] The act was strongly endorsed [21] by the President, and its enactment was considered a major legislative victory for the Roosevelt Administration. [22]
Hepburn was born in Wellsville, Ohio and raised from the age of seven in Iowa City, Iowa.His schooling was limited to a few months in an Iowa City academy. [3] The great-grandson of Revolutionary War officer, printer, and congressman Matthew Lyon, and the great-great-grandson of Thomas Chittenden, the first Governor of Vermont, he was first engaged as an apprentice printer, before studying law.
Railroad historians mark the 1906 Hepburn Act that gave the ICC the power to set maximum railroad rates as a damaging blow to the long-term profitability and growth of railroads. [168] After 1910 the lines faced an emerging trucking industry to compete with for freight, and automobiles and buses to compete for passenger service. [77]: 348–64
Congress passed a minor amendment to the Act in 1903, the Elkins Act. [11] Major amendments were enacted in 1906 and 1910. The Hepburn Act of 1906 authorized the ICC to set maximum railroad rates, and extended the agency's authority to cover bridges, terminals, ferries, sleeping cars, express companies and oil pipelines. [12]
A viral post claiming to be a short story from actress Katharine Hepburn was actually written by motivational speaker Dan Clark. Fact check: Short story on the 'importance of giving' misattributed ...
Louisville & Nashville Railroad Company v. Mottley, 211 U.S. 149 (1908), was a United States Supreme Court decision that held that under the existing statutory scheme, federal question jurisdiction could not be predicated on a plaintiff's anticipation that the defendant would raise a federal statute as a defense.