jul 2, 1890 - Sherman Anti-Trust Act
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This was the first Federal act that outlawed business monopolies. A business monopoly would consist of a single seller that would face no competition, being the sole seller of goods with no substituting product. This was to regulate interstate commerce based on the power of Congress. The trusts (stockholders transferred shared to a single set of trustees in return for joint earnings from multiple companies) started dominating major companies like the Standard Oil Trust. This would not be a fair benefit to the people, only to the company. After this act, any "trust" would be illegal.
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