jul 2, 1890 - Sherman Antitrust Act
Description:
The Sherman Antitrust Act was the first federal act that outlawed monopolistic business practices. It was the first measure passed by Congress to prohibit trusts. Congress claimed power to pass the Sherman Act through its constitutional authority to regulate interstate commerce. Therefore, federal courts only have jurisdiction to apply the Act to conduct that restrains or affects interstate commerce. This was a step towards more power to the federal government because Congress was able to say that these trust and monopolies weren't allowed on a federal level.Added to timeline:
Date:
jul 2, 1890
Now
~ 135 years ago