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13 Washburn L.J. 6 (1974)
The Legislative History of the Federal Trade Commission Act

handle is hein.journals/wasbur13 and id is 30 raw text is: The Legislative History of the Federal Trade Commission Act by James C. Lang* I. Introduction If. Combinations III. Governmental Concern with the Combination Movement Prior to the Sherman Act IV. The Interstate Commerce Act V. The Sherman Act A. Background B. Purpose and Enforcement VI. The Effect of the Sherman Act upon the Combination Movement VII. The 1914 Antitrust Legislation VIII. Conclusion I. Introduction The Federal Trade Commission, created in 1914,1 was the second major regulatory agency to be established by Congress. The Interstate Commerce Commission had been created in 1887, but this agency was concerned primarily with regulation of the railway industry. While the Interstate Commerce Act was a novel piece of legislation on the federal level, the Federal Trade Commission Act was a remedial measure ne- cessitated by the Sherman Act's2 failure to halt the growth of business combinations. It united the commission form of regulation, exempli- fied by the Interstate Commerce Commission, with a general antitrust prohibition. It was not in itself a comprehensive piece of legislation but rather an addition to the Sherman Act supplemented shortly after its passage by specific antitrust prohibitions in the Clayton Act.3 The provisions of the Federal Trade Commission legislation may be divided into those relating to the structure of the Commission and those relating to the prohibition and enforcement areas. The Commis- sion was organized in much the same manner as was the Interstate Commerce Commission. Five members were to be appointed by the President with the advice and consent of the Senate and only three of the five could be of the same political party. The Act abolished the old Bureau of Corporations and merged the Bureau's administrative machinery into the new Federal Trade Commission.4 While there was nothing particularly unusual about the organiza- tion of the Commission, it should be noted this was the first use of * B.A., Univ. of Tulsa, 1961; M.A., Id., 1970; J.D., Id., 1964; private practitioner in Tulsa, Oklahoma. 1. Act of Sept. 26, 1914, ch. 311, 38 Stat. 717. 2. Sherman Antitrust Act, 115 U.S.C. § 1 (1890). 3. Clayton Act, 15 U.S.C. § 19 (1914). 4. Act of Sept. 26, 1914, ch. 311, 38 Stat. 717.

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