1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Setler79 [48]
2 years ago
15

In what way was the Sherman Antitrust Act successful?

History
2 answers:
s344n2d4d5 [400]2 years ago
8 0

Answer:

It allowed the government to break up the trust arrangement that the Standard Oil company had.

Explanation:

Maksim231197 [3]2 years ago
4 0

Answer:

It allowed the government to break up the trust arrangement that the Standard Oil company had.

Explanation:

Approved July 2, 1890, The Sherman Anti-Trust Act was the first Federal act that outlawed monopolistic business practices.

The Sherman Antitrust Act of 1890 was the first measure passed by the U.S. Congress to prohibit trusts. 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 Sherman Antitrust Act was based on the constitutional 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.

A trust was an arrangement by which stockholders in several companies transferred their shares to a single set of trustees. In exchange, the stockholders received a certificate entitling them to a specified share of the consolidated earnings of the jointly managed companies. The trusts came to dominate a number of major industries, destroying competition. For example, on January 2, 1882, the Standard Oil Trust was formed. Attorney Samuel Dodd of Standard Oil first had the idea of a trust. A board of trustees was set up, and all the Standard properties were placed in its hands. Every stockholder received 20 trust certificates for each share of Standard Oil stock. All the profits of the component companies were sent to the nine trustees, who determined the dividends. The nine trustees elected the directors and officers of all the component companies. This allowed the Standard Oil to function as a monopoly since the nine trustees ran all the component companies.

The Sherman Act authorized the Federal Government to institute proceedings against trusts in order to dissolve them. Any combination “in the form of trust or otherwise that was in restraint of trade or commerce among the several states, or with foreign nations” was declared illegal. Persons forming such combinations were subject to fines of $5,000 and a year in jail. Individuals and companies suffering losses because of trusts were permitted to sue in Federal court for triple damages. The Sherman Act was designed to restore competition but was loosely worded and failed to define such critical terms as “trust,” “combination,” “conspiracy,” and “monopoly.” Five years later, the Supreme Court dismantled the Sherman Act in United States v. E. C. Knight Company (1895). The Court ruled that the American Sugar Refining Company, one of the other defendants in the case, had not violated the law even though the company controlled about 98 percent of all sugar refining in the United States. The Court opinion reasoned that the company’s control of manufacture did not constitute a control of trade.

The Court’s ruling in E. C. Knight seemed to end any government regulation of trusts. In spite of this, during President Theodore Roosevelt’s “trust busting” campaigns at the turn of the century, the Sherman Act was used with considerable success. In 1904 the Court upheld the government’s suit to dissolve the Northern Securities Company in State of Minnesota v. Northern Securities Company. By 1911, President Taft had used the act against the Standard Oil Company and the American Tobacco Company. In the late 1990s, in another effort to ensure a competitive free market system, the Federal Government used the Sherman Act, then over 100 years old, against the giant Microsoft computer software company.

Resource Used:

https://www.ourdocuments.gov/doc.php?flash=false&doc=51

I hope this helps you in any shape or form.

You might be interested in
How many vietnam veterans are there?
sergey [27]
IT was estimated about 800,000 Vietnam .
8 0
3 years ago
Byzantine architecture often combined elements of what?!
sukhopar [10]
The Byzantine architecture often combined Roman Greek architecture .
7 0
3 years ago
Read 2 more answers
Select the correct answer.
bija089 [108]

Answer:

A

Explanation:

Profits from the slave trade were invested in the development of new industries.

7 0
3 years ago
The segment you just read refers to something called the right of revolution. Why would this have been important to the authors
grin007 [14]

Answer:

Explanation:

The right of revolution was included in the Declaration of Independence because. Explanation: This segment was of great importance as it supported the people in their intention to fight the unjust government.

I hope it helps you

please mark as the brainliest answer

7 0
2 years ago
Of any Latin American country, the fall of the Soviet Union had the greatest effect on Cuba. True OR False
Vitek1552 [10]
Answer:

true since they had an alliance
3 0
3 years ago
Other questions:
  • How did T. Roosevelt's help to resolve the coal strike of 1902?
    13·1 answer
  • Use the drop-down menus to complete each sentence. The Tiber River is a route to the . The helped Rome grow by providing fertile
    7·2 answers
  • The British navy’s use of impressment meant that they
    10·1 answer
  • What resulted from the collapsed of the western Roman Empire
    7·2 answers
  • What lands did Bernardo de Galvez govern in North America?
    5·2 answers
  • The Fertile Crescent was a major means of migration in ancient times because? A. rivers flow through all of the land in the arc
    8·1 answer
  • Select all the correct answers.
    8·1 answer
  • I led Apache raids on settlements on both sides of the Arizona-Mexico border for years. I was captured in 1886 and my people mov
    6·1 answer
  • United States Indian policy in the 1800s included all of the following EXCEPT
    6·1 answer
  • What are three ways Athens democracy affected USA. HELPPP ILL MAKE BRANLIEST FOR ANSWERR
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!