ustained a statute which, without any explicit standards
whatever, authorized the Federal Home Loan Bank Board to make rules and
regulations for the supervision of Federal Savings and Loan
Associations. That decision was influenced by the fact that the
corporation was chartered by federal law as well as by the peculiar
problems involved in the supervision of financial institutions. The
Court was at pains to make clear that this decision would not
necessarily govern the disposition of dissimilar cases.[34]

RULE-MAKING POWER

After Wayman _v._ Southard, nearly three quarters of a century elapsed
before the Court had occasion to approve the delegation to an executive
officer of power to issue regulations for the administration of a
statute. In 1897 it sustained the authority granted to the Commissioner
of Internal Revenue to designate the "marks, brands and stamps" to be
affixed to packages of oleomargarine.[35] Soon thereafter it upheld an
act which directed the Secretary of the Treasury to promulgate minimum
standards of quality and purity for tea imported into the United
States.[36] It has approved the delegation to executive or
administrative officials of authority to make rules governing the use of
forest reservations;[37] permitting reasonable variations and tolerances
in the marking of food packages to disclose their contents;[38]
designating tobacco markets at which grading of tobacco would be
compulsory;[39] establishing priorities for the transportation of
freight during a period of emergency;[40] prescribing price schedules
for the distribution of milk;[41] or for all commodities[42] and for
rental housing[43] in time of war; regulating wages and prices in the
production and distribution of coal;[44] imposing a curfew to protect
military resources in designated areas from espionage and sabotage;[45]
providing for the appointment of receivers or conservators for Federal
Savings and Loan Associations;[46] allotting marketing quotas for
tobacco;[47] and prescribing methods of accounting for carriers in
interstate commerce.[48]

ORDERS DIRECTED TO PARTICULAR PERSONS

The now familiar pattern of regulation of important segments of the
economy by boards or commissions which combine in varying proportions
the functions of all three departments of government was first
established by the States in the field of railroad rate regulation.
Discovering that direct action was impracticable, the State legislatures
cre