What law intended to regulate the railroad industry and prevent monopolistic practices?

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The Interstate Commerce Act was enacted in 1887 to address the growing concerns over the monopolistic practices and unfair rates associated with the railroad industry. This law established the Interstate Commerce Commission (ICC), the first federal regulatory agency in the United States, tasked with overseeing and regulating the interstate railroad industry. The goal was to ensure that the rates charged by railroads were reasonable and just, and to eliminate discriminatory practices against smaller businesses and farmers who relied heavily on rail transport.

By creating a framework for regulation, the Interstate Commerce Act sought to promote fair competition and prevent the formation of monopolies within the railroad sector, which had become critical to the American economy during that era. The act marked a significant shift in government involvement in the economy, demonstrating a growing acknowledgment of the need for oversight in order to maintain a level playing field for businesses and protect consumers from exploitation.

This context clarifies why the Interstate Commerce Act is the correct answer, as it specifically targeted the issues surrounding the railroad industry and its practices. Other laws mentioned, while also important in their own right, address different industries or broader economic concerns, and thus do not directly relate to the regulation of railroads and the prevention of monopolies in that sector.

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