Sherman Antitrust Act

Historical Context Note

Lucas Paul Richert (University of Saskatchewan)

The Literary Encyclopedia. Volume 3.2.2: American (US) Writing and Culture: The Nineteenth Century, 1783-1900.
Vol. editors: J. Michael Duvall (College of Charleston), Emory Elliott (University of California, Riverside), Stephen E. Meats (Pittsburg State University), Tony Papanikolas (San Jose State University)

Domains

Equity and trusts

Dates

Date of occurrence 1890-07-02

Places

United States (Location)

Resources

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On July 2, the Sherman Antitrust Act was passed by Congress and it represented the first federal effort reign in monopolies. Named for U.S. Senator John Sherman, the act contained two key provisions. First, it outlawed parties from restraining trade between states or foreign nations. The practice of restraining referred to price-fixing, share markets, limits on industrial output, and the exclusion of competition. Second, the act made illegal all attempts to monopolize any facet of trade or commerce in the United States. Though passed in 1890, it was not until the Roosevelt administration that the Sherman Act was applied to the U.S. economy.

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103 words

Citation: Richert, Lucas Paul. "Sherman Antitrust Act". The Literary Encyclopedia. First published 01 February 2009 [https://www.litencyc.com/php/stopics.php?rec=true&UID=5983, accessed 25 April 2024.]

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