Bureau of Corporations

The Bureau of Corporations was an important group created to help look into different businesses and make sure they followed the rules. It started as part of the Department of Commerce and Labor in the United States. This group worked before another bigger group, called the Federal Trade Commission, was made to handle these jobs. The Bureau of Corporations helped keep an eye on companies to protect people and make sure everyone played fair.

Background

After President Theodore Roosevelt asked for it, Congress passed a law on February 14, 1903, creating the Bureau of Corporations and the Department of Commerce and Labor. Roosevelt thought this was one of his biggest successes.

The Bureau’s main job was to study industries and look for unfair business practices. In 1906, it made a report about moving petroleum that helped create the Hepburn Act. This report was also used in 1911 when the government successfully took apart Standard Oil.

In 1912, the Bureau made a report about water power in the United States. It talked about who owned water power and the important rules needed for its use. These ideas later helped shape the Federal Water Power Act of 1920. The Bureau also studied other industries like meatpacking, tobacco, steel, and lumber.

Merger

In 1915, the Bureau of Corporations became part of the new Federal Trade Commission. The Federal Trade Commission took over the staff and investigations that the Bureau was handling. Joseph E. Davies, who was the Commissioner of Corporations, became the first Chairman of the Federal Trade Commission, and his deputy, Francis Walker, became the chief economist of the new Commission.