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WVALTER~J BLum"' RECENT ATTACKS on the independent regulatory commissions of the federal government have again focused attention on how well these agencies succeed in developing doctrine which gives content to more general legislative standards. Since their inception it has been assumed generally that such subordinate principles would emerge from the expert skill and knowledge of the commissions, whether they operated by laying down rules purporting to have broad application or by rendering opinions on a case to case basis. This assumption is central to the place of administrative agencies in our scheme of governmental control over economic activities. It encourages us to regard them as more than mere umpires or juries, and as being entitled to a dignity approaching that of legislatures and courts. They are, in a word, to be viewed as lawmakers, junior grade. Under the circumstances it is important that we be alerted whenever the central assumption is not consistent with the facts. Tp the degree that a commission is unable to develop doctrine, and thus fails to discipline itself and give guidance to those subject to its power, we might be moved to conclude that control by government should take another form, or that the composition or role of the agency should be drastically altered. It is against this backdrop that one aspect of opinions rendered by the Interstate Commerce Commission under section 20b of the Interstate Commerce Act,' sometimes referred to as the railroad modification law, will be reviewed. The concern will be with the agency's handling of the statutory requirement that, to be approved by the Commission, a proposed securities alteration or

The Interstate Commerce Commission as Lawmaker: The Development of Standards for Modification of Railroad Securities