What is the elkins act?

Answer 1

A brief summary from good ol'Wikipedia:

The Elkins Act is a 1903 United States federal law that amended the Interstate Commerce Act of 1887.[1] The Elkins Act authorized the Interstate Commerce Commission to impose heavy fines on railroads that offered rebates, and upon the shippers that accepted these rebates. The railroad companies were not permitted to offer rebates.

Prior to the Elkins Act, the livestock and petroleum industries paid standard rail shipping rates, but then would demand that the railroad company give them rebates. The railroad companies resented being extorted by the railroad trusts and therefore welcomed passage of the Elkins Act. The law was sponsored by President Theodore Roosevelt as a part of his "Square Deal" domestic program, and greatly boosted his popularity.

Answer 2

The Elkins Act strengthened the Interstate Commerce Commission of 1887 by imposing heavy fines on railroads offering rebates and on the shippers accepting them. The railroad companies were not permitted to deviate from published rates. Prior to the Elkins Act, the Live stock and oil industries paid the standard rail rate but then would demand that the railroad company give them rebates. The railroad companies resented being extorted by the trusts and therefore welcomed the Elkins Act. The law was sponsored by President Theodore Roosevelt as a part of his so-called "Square Deal", and greatly boosted his popularity. This law also caused nearly all railroads to become defunct for a short period of time. Roosevelt made this reform because of his duty to eliminate businesses with unfair business practices.