feb 4, 1887 - Signs the Interstate Commerce Act (24 Stat 379) which creates and empowers the Interstate Commerce Commission (ICC). The goal is to control competition and stabilize rates charged by interstate railroads. Initially, the ICC was part of the Department of Interior, not an "independent commission." Later regulatory authority of the ICC would extend to motor carriers, barges, and airlines
Added to timeline:
Date:
feb 4, 1887
Now
~ 139 years ago