With increasing competition from major corporations, on July 2, 1890, Congress passed the Sherman Anti-Trust Act. The act, created to specifically limit cartels and monopolies, was lobbied by Senator John Sherman of Ohio, hoping to encourage more competition. Sherman was the chairman of the Senate Finance Committee and Secretary of the Treasury to President Benjamin Harrison, the president who signed the act into law.
Today In History- July 2
The U.S. Congress passes the Sherman Anti-Trust Act.
Sherman Anti-Trust passed in business legislation.
- Washington D.C., USA
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