Sherman

Sherman Sherman Antitrust Act The Sherman Antitrust Act was the first act passed 1890 by the U.S. Congress to prohibit trusts. This act was named after Senator John Sherman. Due to its performance, many different states passed similar laws. These laws in the other states were limited to intrastate businesses. Many different factors led the Congress to pass the Sherman Act. Some of these factors were: 1. Opposition to the concentration of economic power in large corporations 2. Business concerns. The act was based on the constitutional power of the Congress to regulate interstate commerce. The Sherman Act also declared illegal every contract, combination (in the form of trust or otherwise), or conspiracy in restraint of interstate and foreign trade. A fine of $5,000 and imprisonment for one year were set as the maximum penalties for violating the act. The Sherman Act authorized the federal government to institute proceedings against trusts in order to dissolve them, but Supreme Court rulings prevented federal authorities from using the act for some years. As a result of President Theodore Roosevelt\'s “trust-busting” campaigns, the Sherman Act began to be invoked with some success, and in 1904 the Supreme Court upheld act, sherman, antitrust, mergers, senate, president, merger, businesses, billion, against, years, under, states, secretary, passed, new, law, government, ftc, federal, different, corporations, corporation, congress, company, business, american, 1999, 1914, 1890, types, two, trusts, trust, treasury