The Accounting Review Vol. 18 No. 3 1943
THE FEDERAL REGULATORY COMMISSIONS.
Abstract
In 1887 the Interstate Commerce Commission, was established by act of U.S. Congress. The railroad problem was not new in 1887, nor were attempts to solve it unknown. The Congress and the courts had long been troubled by the contentions of railroad companies and the complaints of shippers. It was hoped that by setting up a permanent administrative body with suitable powers the regulatory intent of the Congress might be accomplished more reasonably and effectively. In this way began the experiment with the commission as a device for dealing with economic situations and procedures which are thought to call for government control. The establishment of the Federal Trade Commission in 1913 seemed to indicate that the type of agent to exercise governmental control in the various fields of business would take the form of a Federal commission. Federal commission as the principal agency for the regulation of business, and that any extension of government control of business is likely to result in the granting of new powers to old commissions or in the creation of new commissions. The problems involved in the relation of the commissions to the courts have given the commissions a legalistic procedure which, if undesirable, is still inescapable. The strength of the commission system lies in an adequate and competent staff. It is likely that in the future relationships between commissions will be more important than in the past. That is, the commissions are likely to become a regulatory network rather than simple, unrelated adventures.
- DOI
- 10.2308/tar-7042114
- Volume
- 18
- Issue
- 3
- Pages
- 244-248
- Language
- en
- Sources
- openalex crossref