Railroads' rates and practices

Definition

Railroads' rates and practices refer to the regulations and policies implemented to govern the pricing, services, and operations of railroad companies in late nineteenth century America. These regulations aimed to ensure fair competition, prevent monopolistic behavior, and protect consumer interests.

Related terms

Interstate Commerce Act: This act was enacted in 1887 to regulate interstate commerce by prohibiting unfair business practices such as rate discrimination.

Sherman Antitrust Act: Passed in 1890, this act aimed to combat monopolistic behavior by prohibiting trusts (large corporations) from restraining trade or engaging in anti-competitive practices.

Granger Laws: These state laws passed in the late 1800s sought to regulate railroad rates within individual states to protect farmers from excessive charges.