The St. Louis Southwestern Railway Company v. United States and Interstate Commerce Commission case in 1917 involved a dispute over the rates set by the railway company for interstate transportation of freight. The Interstate Commerce Commission (ICC) had ordered the company to reduce its rates, arguing they were unreasonable and discriminatory against small shippers. The railway company challenged this order, claiming it was arbitrary and violated their rights under the Fifth Amendment to due process of law. However, the Supreme Court upheld ICC's decision on grounds that it acted within its authority granted by Congress to regulate interstate commerce. It ruled that courts should not interfere with administrative decisions unless there is clear evidence of abuse or violation of constitutional rights - which wasn't proven in this case. This ruling reinforced ICC's power to determine reasonable railroad rates and prevent discrimination among shippers; thus playing a significant role in shaping future regulations governing railroads' pricing policies.

In the dissenting opinion for the St. Louis Southwestern Railway Company v. United States and Interstate Commerce Commission case, it was argued that the court majority had overstepped its jurisdiction by ruling on a matter of administrative discretion rather than law or constitutionality. The dissenting justices believed that Congress had granted discretionary power to the Interstate Commerce Commission (ICC) to determine what constituted 'just and reasonable' rates for railroads, within certain bounds set by statute. They contended that as long as these boundaries were not exceeded, it was not within judicial purview to question or overturn such decisions made by ICC based on their expertise in this specific field of regulation. Therefore, they disagreed with the majority's decision which effectively substituted its own judgment for that of ICC regarding rate-setting matters.