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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).
7.9 The 1890 Sherman Antitrust Act Congress passed this act in 1890, and this is the source of all American anti monopoly laws. The law forbids every contract, scheme, deal, conspiracy to restrain trade. It also forbids conspirations to secure monopoly of a given industry. The ideas were new and had to wait before they could achieve some efficiency.