In the case of Chicago, Milwaukee and St. Paul Railway Company v. United States in 1904, the U.S Supreme Court ruled on a dispute involving railroad rates for interstate commerce. The railway company had been charging different rates for transporting goods over similar distances within Wisconsin and between Wisconsin and Minnesota respectively, which was deemed discriminatory by shippers who filed complaints with the Interstate Commerce Commission (ICC). The ICC ordered that this practice be stopped but was challenged by the railway company on grounds that it exceeded its authority as per Congress' mandate under the Interstate Commerce Act of 1887. However, upon reaching to Supreme Court, it upheld ICC's decision stating that differential pricing amounted to unjust discrimination prohibited under federal law even if no harm could be shown from such practices. This ruling reinforced ICC's regulatory powers over railroads thereby setting an important precedent for future cases related to rate regulation in interstate commerce.

In the dissenting opinion for the case of Chicago, Milwaukee and St. Paul Railway Company v. United States, it was argued that the Interstate Commerce Commission (ICC) did not have authority to set maximum rates for private companies like railroads. The dissenting justices believed that this power should be reserved for Congress alone as per constitutional provisions. They contended that ICC's rate-setting powers were a violation of due process rights under the Fifth Amendment because they interfered with private property without judicial intervention or review. Furthermore, they expressed concern about potential abuse of such regulatory power by government agencies in absence of checks and balances provided by judiciary oversight.