What was so bad about pools in the late 1800's? I understand what they were but they were banned by the government in the Interstate Commerce Act and I don't understand why they were so harmful? How did they give more money to railroad companies? I'M SO CONFUSED.
According to Dictionary.com, a pool is:
"4. an association of competitors who agree to control the production, market, and price of a commodity for mutual benefit, although they appear to be rivals."
Pools were harmful because they controlled the prices charged by the member companies. Pools often set exorbitant prices and the customers had to pay them to receive the services.
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