Sherman Anti-Trust Act (1890

The Sherman Anti-Trust Act, signed into law by President Benjamin Harrison on July 2, 1890, was the first federal legislation to outlaw monopolistic business practices and trusts that restrained interstate commerce. The act authorized the federal government to dissolve trusts, imposed fines and jail time on those forming illegal combinations, and allowed victims to sue for triple damages. However, the act's loose wording and failure to define key terms like "trust" and "monopoly" limited its effectiveness, and the Supreme Court later significantly weakened it.