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The Sherman Antitrust Act of 1890 was the first measure passed by the U.S. Congress to prohibit abusive monopolies, and in some ways it remains the most important.Trusts and Monopolies. A trust was an arrangement by which stockholders in several companies transferred their shares to a single set of trustees.he Sherman Antitrust Act was the first measure enacted by the U.S. Congress to prohibit trusts (or monopolies of any type).
The Antitrust Laws. Congress passed the first antitrust law, the Sherman Act, in 1890 as a comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade..he antitrust laws proscribe unlawful mergers and business practices in general terms, leaving courts to decide which ones are illegal based on the facts of each case.