What was one of the earliest attempts to put an end to trusts and monopolies?
1 Answer
The 1890 Sherman Act
Explanation:
During Harrison presidency a law was passed to limit the power of trusts and monopolies. It was pursued by Theodore Roosevelt in the years 1900.
While the Sherman Act was one of the earliest attempts to regulate monopolies it was not the first. The Granger Acts passed in many Western States, protected farmers from the abuses of the Railroads.
( Read the Octopus by Frank Norris ) The Interstate commerce Act of 1887 was designed to limit the power of trusts and monopolies.
In 1895 the Supreme Court ruled against the Sherman Act by ruling that a monopoly of manufacturing in the Sugar industry was not a violation of the law regulating trade.
In 1989 President Mckinley put teeth into the Sherman Act by appointing Sitting Senators to the committee on the enforcement of the Anti trust Act. These efforts had fruit with the vigorous enforcement of the the anti trust laws by Theodore Roosevelt in 1900.
In 1904 The Supreme Court ruled against The Standard Oil Company Trust using the Sherman Act. This broke up one of the most powerful monopolies in America.
The efforts of the American people to protect themselves from the abuses of large and powerful companies has a long history. Sometimes those efforts have been successful and other times not. It is a fight that requires constant effort.
