Sherman Antitrust Act Signed Into Law

1890

President Benjamin Harris signs the Sherman Antitrust Act, which prohibits the monopolization of industries by companies whose business is conducted between states. As business expands rapidly at the height of the Gilded Age, the government recognizes a need to protect the economy from the acquisitive hands of industry titans attempting to consolidate power in national markets. The law seeks to guarantee fair and competitive prices for services provided to customers, who find themselves increasingly at the mercy of big-business tycoons.