In 1890, Congress passed Sherman's Antitrust Act.It was difficult to enforce the act though, because it was so vague. Because of this, almost all of the suits under it had no effect at all. President Theodore Roosevelt did not think that trusts were harmful in anyway. He began filing suits under the Sherman Natitrust act and persuaded the Justice Department to sue the Northern Securities Company who had formed a monopoly over the northwestern railroads. Roosevelt ended up filing 44 trusts, winning nearly all of them.In 1902, 140,000 coal miners went on strike demanding a 20% raise, a 9 hour work day, and the right to form a union. The mine operators would not give the miners what they wished. Five months later, coal began to run low. Roosevelt decided to call both sides to the White House to discuss the issue. Roosevelt was definetly with the miners side, saying that the mine operators had “extraordinary stupidity and bad temper”. After talking with the miners and the mine operatros, Roosevelt threatened to take control of the mines. THis made the mine operators cooperate. The following year, the miners won a 10% pay hike, and a shorter 9 hour work day. However, they lost their request for a Union, and their right to strike for the following 3 years. Because of Roosevelt's actions, the government felt that they needed to intervene everytime there was a strike on the public welfare.The ICC, which stands for the Interstate Commerce Commission, was set up in 1887 for the purpose of enforcing the law, the Interstate Commerce Act, which was established to stop wealthy railroad owners from dividing the business to help fix high prices. The ICC did not have the desired impact. After it failed, Rossevelt requested that congress pass the Elkins act which made it illegal for shippers to recieve and railroad owners to give rebates for using their railroads. The Act also stated that railroad owners could not change the set fee without notifying the public.
Woodrow WilsonAfter winning in 1912, President Woodrow Wilson requested that the congress enact two antitrust measures. The Clayton Antitrust Act was one of the acts established in 1914. With this act, they hoped to pick up where the Sherman Antitrust Act left off. This act made it illegal for corporations to aquire the stok of another company if doing so would create a monopoly. Violators would have its officer prosecuted. The act also stated that farm organizations and labor unions had the right to exist and would no longer be affected by antitrust acts. With this, strikes, peaceful picketing, boycotts, and all the benefits from strikes became legal. Also injunctions filed against strikers became illegal, unless the strikers made threats to enflict unpreparable damage.The other antitrust act that Wilson helped pass was the FTC, or the Federal Trade Commission. This act made it possible for the agency to investigate possible violations made by regulatory statutesto recieve normal reports, and put an end to unfair business practices. The FTC aquired 400 cease-and desist from law violators while under Wilson's power.
TODAY:The Sherman Antitrust Act continues to form the basis for all antitrust acts enforced in congress. The ICC remained an active agency saince 1887, both with railroads then later trucking, until it was abolished in 1995. The remaining functions of the ICC were transferred to the Surface Transportation Board. Before it was abolished,the ICC served as a model for many more regulatory efforts. The Clayton Antitrust Act added two more amendments later on. In 1936, an act against unfair price cutting was added and then in 1950, an act against incorporate stock holdings was also added. The FTC still continues to be an agency that promotes consumer protection and the elimination of coercive monopolies which are monopolies that do not permit competition.SOURCES:Text Bookhttp://en.wikipedia.org/wiki/Sherman_Antitrust_Acthttp://en.wikipedia.org/wiki/Interstate_Commerce_Commissionhttp://www.infoplease.com/ce6/history/A0812484.htmlhttp://en.wikipedia.org/wiki/Federal_Trade_Commission
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