jul 2, 1890 - Sherman Antitrust Act

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The Sherman Anti-Trust Act was the first Federal act that outlawed monopolistic business practices. It was named for Senator John Sherman of Ohio, who was a chairman of the Senate finance committee and the Secretary of the Treasury under President Hayes. Several states had passed similar laws, but they were limited to intrastate businesses. The Act was based on the power of Congress to regulate interstate commerce. The Sherman Anti-Trust Act passed the Senate by a vote of 51–1 on April 8, 1890, and the House by a unanimous vote of 242–0 on June 20, 1890. President Benjamin Harrison signed the bill into law on July 2, 1890.

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