What Happened from 1890 to 1899 including Important Events, Key Technology and Inventions 1890 Bismarck Resigns, He had achieved a few things but in 1890 Otto von Bismarck was forced to resign by Wilhelm II. His policies for social security were derided by his competitors, and his conservatism had started to wain on his being the leading statesman of Europe. It is interesting that Adolf Hitler was so enamored by the Prussian. Black Voter Rights Mississippi, Mississippi becomes the first state to incorporate requiring a literacy test as a qualification for voting, but to ensure uneducated whites could still vote, a grandfather clause is enacted that means any voter or descendent who had the right to vote prior to 1866 could still vote without the literacy test as a qualification. Those affected were poor uneducated blacks who had no right to vote prior to 1866. Sherman Antitrust Act, The Sherman Antitrust Act is passed on July 2, 1890.

It was the first Federal statute to limit cartels and monopolies to prevent the artificial raising of prices by restriction of trade or supply, and today still forms the basis for most antitrust litigation by the United States federal government. The McKinley Tariff, The McKinley Tariff is passed to set the average ad valorem tariff rate for imports to the United States at 48.4%, to protect US manufacturing. 1891 James Hogg Becomes First Native Texan Governor, Jim Hogg was the first born native Texan to serve as Governor of Texas, and he took office in 1891. He is well known for his supervision of the State's law enforcement and railroading communities. Birth Of Basketball , Dr. James Naismith, a physical education professor and instructor at the International Young Men's Christian Association Training School (YMCA) in Springfield, Massachusetts, USA, invents an entirely new indoor game using a soccer ball and two peach baskets as goals (Basketball) while trying to keep his gym class active on a rainy day. His Original set of rules are listed below: 1.) The ball may be thrown in any direction with one or both hands.

2.) The ball may be batted in any direction with one or both hands. 3.) A player cannot run with the ball. The player must throw it from the spot on which he catches it, allowance to be made for a man running at good speed. 4.) The ball must be held in or between the hands; the arms or body must not be used for holding it. 5.) No shouldering, holding, striking, pushing, or tripping in any way of an opponent. The first infringement of this rule by any person shall count as a foul; the second shall disqualify him until the next basket is made or, if there was evident intent to injure the person, for the whole of the game. No substitution shall be allowed. 6.) A foul is striking at the ball with the fist, violation of rules three and four and such described in rule five. 7.) If either side makes three consecutive fouls, it shall count a goal for the opponents (consecutive means without the opponents in the mean time making a foul). 8.) A goal shall be made when the ball is thrown or batted from the grounds into the basket and stays there (without falling), providing those defending the goal do not touch or disturb the goal.

If the ball rests on the edges, and the opponent moves the basket, it shall count as a goal. 9.) When the ball goes out of bounds, it shall be thrown into the field and played by the first person touching it. In case of dispute the umpire shall throw it straight into the field. The thrower-in is allowed five seconds. If he holds it longer, it shall go to the opponent. If any side persists in delaying the game, the umpire shall call a foul on that side. 10.) The umpire shall be the judge of the men and shall note the fouls and notify the referee when three consecutive fouls have been made. He shall have power to disqualify people according to Rule 5. 11.) The referee shall be judge of the ball and shall decide when the ball is in play, in bounds, to which side it belongs, and shall keep the time. He shall decide when a goal has been made and keep account of the baskets, with any other duties that are usually performed by a scorekeeper. 12.) The time shall be two fifteen-minute halves, with five minutes rest between. 13.) The side making the most points in that time is declared the winner.

As you can tell many of the rules have changed but the basic concept of the game is still the same today. Find Out More About The Origins and History Of Basketball including origins, star players, growth, and the modern game. Carnegie Hall, Carnegie Hall located at 881 Seventh Avenue in Midtown Manhattan in New York City opens. Carnegie Hall is named after Andrew Carnegie, who paid for its construction. Its main purpose was for use as a performance venue for classical music. 1892 The Adventures of Sherlock Holmes, Arthur Conan Doyle had submitted the first of six Sherlock Holmes stories to the Strand Magazine in April of 1891. These were followed by 1892's book of the Adventures of Sherlock Holmes. The Strand's stories (which had begun with A Scandal in Bohemia) were followed by the Strand's request for further cases to be published, and he provided another six (with his mother's admonishment for considering Holmes' demise). The Adventures of Sherlock Holmes contained all twelve stories. US Cotton Crop Devastated, The boll weevil arrives in The United States and infests cotton country from Texas eastwards destroying much of the south's staple crop and economy.

The boll weevil measures an average length of six millimeters, and feeds on cotton buds and flowers. Ellis Island Opens, The first Ellis Island Immigration Station was officially opened. That first day, three large ships were waiting to land, and 700 immigrants passed through Ellis Island. In the first year, nearly 450,000 immigrants passed through the Island. The first to be processed was Annie Moore, a 15-year-old girl from Cork, Ireland on January 1st 1892. Oil Find at Spindletop, Texas, The finding of oil changed the Texas landscape and provided the beginnings of the Oil Business in Texas with the Spindletop oil field. 1893 U.S. Marines Remove Queen Liliuokalani From the Throne of Hawaii , Lydia Liliuokalani was the only Queen of Hawaii before the islands' annexation to the United States. She had succeeded her brother to the throne in 1891, and wanted to reinstall the autonomy he had given away, and to rescind on the concessions he had made to the Americans, such as their use of Pearl Harbor.

She was made to abdicate in January 1893 and the U.S. attendant, Sanford Cole, was supported by a detachment of Marines. Moving Pictures, Thomas Edison, while not having been able to link sound and motion to his kinetograph and kinetoscope was able to to make a silent movie with them. He had constructed the world's first motion picture stage, which he'd named the 'Black Maria.' The kinetoscopes were able to give an individual depiction of a moving image, and the viewer had to look through a lens. Lizzie Borden, In the case of the murder of her father Andrew Jackson Borden, and her stepmother, Abby Borden, despite incriminating circumstances but with no murder weapon found and no blood evidence found. A jury in New Bedford, Mass., found Lizzie Borden innocent of the ax murders of her father and stepmother. on June 20th The case was is best remembered by the popular jump-rope rhyme: Lizzie Borden took an axe And gave her mother forty whacks. And when she saw what she had done She gave her father forty-one.

1894 Coca-Cola First Sold In Bottles, With Coca-Cola having been trademarked in 1893, the Coca-Cola Company was able to sell its produce in bottles for the first on March 12th, 1894 in Vicksburg, Mississippi. The Jungle Book, The Jungle Book is a collection of stories written by Rudyard Kipling. The tales in the book are fables, using animals in an anthropomorphic manner to give moral lessons. Pullman Illinois, The Pullman Strike starts when 3,000 employees of the Pullman Palace Car Company began a wildcat strike in response to sharp reductions in wages. The town of Pullman including homes, shops, was owned by the Pullman corporation and the cost of rents and goods were not decreased. The main railway unions showed strong support for the Pullman workers and called for a boycott of Pullman cars, and 125,000 workers on twenty-nine railroads had quit work rather than handle Pullman cars.

The strike was broken up by United States Marshals and some 12,000 United States Army troops, sent in by President Grover Cleveland on the premise that the strike interfered with the delivery of U.S. Mail and represented a threat to public safety. The arrival of the military and subsequent deaths of workers led to further outbreaks of violence. During the course of the strike, 13 strikers were killed and 57 were wounded. A national commission formed to study causes of the 1894 strike found Pullman's paternalism partly to blame and Pullman's company town to be "un-American". In 1898, the Illinois Supreme Court forced the Pullman Company to divest ownership in the town, which was annexed to Chicago 1895 Second Jungle Book, More famously known for Kim, Rudyard Kipling had written the stories of Mowgli in 1894 and 1895. It was in this year that the Second Jungle Book came out. The two books were commonly sold together as The Jungle Books. Mowgli had first appeared in 1893's In The Rukh, and is a fictional Indian character.

Kipling is also known for his poetry: 'You're a better man than I am, Gunga Din....' First Race Of Gas Powered Cars, Six motor cars left Chicago's Jackson Park for a 54 mile race to Evanston, Illinois and back on Thanksgiving Day 1895 racing for a 1st prize of $2,000 provided by the Chicago Times-Herald Newspaper. Car Number 5 driven by inventor Frank Duryea, won the race in just over 10 hours at an average speed of 7.3 mph. Oscar Wilde, Playwright Oscar Wilde was found guilty of gross indecency in London and sentenced two years of hard labor. Playwright Oscar Wilde was arrested on charges of "gross indecency" under Section 11 of the Criminal Law Amendment Act earlier in April (in 1895) this term implied 'homosexual acts not amounting to buggery'. First Slot Machines, Charles Fey a San Francisco Mechanic builds the First Slot Machines which he puts into local bars, the deal was simple Fey and the Bar Owner would split the profits 50-50.

The Radio or "Telegraphy without Wires", Italian Born Inventor Guglielmo Marconi uses radio waves to create a system of "wireless telegraphy" to transmit signals a distance of approximately 1.5 kilometers in Pontecchio, Italy. He found no interest or backers and moved to England. Over the next few years having found financial backing he improved his equipment and in 1901 he sent a signal across the Atlantic from Poldu in Cornwall to St John's Newfoundland in Canada. 1896 Utah Becomes the 45th U.S. State , Utah becomes the 45th United State on January 4th , 1896. To become a state it became necessary to renounce the Mormon church's promotion of polygamy as well as their political party the "People's Party". Yukon Gold Rush, Gold is discovered in Bonanza (Rabbit) Creek, Yukon, Canada starting the Klondike Gold Rush/Yukon gold rush. Thousands rush to the Klondike River near Dawson City, Yukon, Canada hoping to strike it rich. First Modern Olympic Games, The Olympic Games of the I Olympiad are held in Athens, Greece.

The original Olympics date back to 776 BC and were held at Olympia on the border of Greece and Macedonia and only Greeks were allowed to compete. Dow Jones Industrial Average First Published, The Dow Jones Industrial Average was first published. The average price of the 12 initial stocks was 40.94. General Electric The only company still in existence and trading under original name. American Cotton Oil Company, now part of Unilever. American Sugar Company, now Amstar Holdings. American Tobacco Company, Broken Up. Chicago Gas Company, now part of Integrys Energy Group, Inc. Distilling & Cattle Feeding Company, now part of Lyondell Chemical Company. Laclede Gas Light Company, still in operation as The Laclede Group. National Lead Company, now NL Industries. North American Company, Broken Up. Tennessee Coal, part of U.S. Steel. U.S. Leather Company, Gone. United States Rubber Company, part of Michelin.

Tsar Nicholas II Nicholas II is crowned Tsar of Russia 1897 First US Gasoline Powered Car Maker, Charles Duryea and Frank Duryea were the first Americans to build a successful commercial automobile, and the first to incorporate an American business for the expressed purpose of building automobiles for sale to the public. Grant's Tomb, The nation mourned with the death of Ulysses S. Grant in 1895, and thousands lined the streets of New York for the dedication of his tomb in 1897. It is on Riverside Drive and 122nd Street, and was attended by President McKinley. A number of Grant's ex-comrades and foes were also present. Dracula Published, Bram Stoker's Dracula was published in this year, but owes its origins to some of the 19th Century's earlier literary works, such as Wilkie Collins' The woman in White and Moonstone, John Polidori's The Vampyre, and Dion Boucicault's The Vampire. Boston Marathon, The World's oldest annual marathon run in Boston, Massachusetts, United States races for the first time.

The Boston Marathon ranks as one of the world's most prestigious road racing events with an average of 20,000 taking part. The marathon is one of five members of the World Marathon Majors which include the cities of Boston, London, Berlin, Chicago and New York City. 1898 USS Maine, USS Maine suddenly explodes and sinks in Havana harbor, Cuba killing nearly three quarters of her crew. No cause has ever been found but suggested causes range from Spanish Espionage to an undetected fire in one of her coal bunkers. USS Maine, USS Maine suddenly explodes and sinks in Havana harbor, Cuba killing nearly three quarters of her crew. No cause has ever been found but suggested causes range from Spanish Espionage to an undetected fire in one of her coal bunkers. New York's Five Counties, The counties (or boroughs) of New York City are defined. They are New York (Manhattan), King's (Brooklyn), Bronx (Bronx), Queen's (Queen's) and Richmond (Staten Island). First Escalator Installed , Harrods in London installs a "Reno Inclined Escalator" to take its shoppers from the first level to the second level.

Because it was considered to be an overpowering experience (It travelled at nearly 2 MPH) for the shopper, they placed a porter at the top of the Escalator to hand out tots of brandy for their shoppers. US/Spanish War Declared, Spain declares war on the United States on April 23rd, 1898 after rejecting America's ultimatum to withdraw from Cuba. US/Spanish War Battle Of Manila Bay, The American Asiatic Squadron under Commodore George Dewey engaged the Spanish Pacific Squadron under Admiral Patricio Montojo y Pasarón in Manila Bay, the Philippines and decimated the Spanish squadron. Rather than see the last of his ships destroyed or captured by the Americans, the Spanish Admiral Patricio Montojo y Pasarón ordered his crews to scuttle any Spanish Ships not destroyed. Although the American Fleet was much smaller than the Spanish Fleet, the Spanish Fleet consisted of mostly obsolete vessels. US/Spanish War Puerto Rico, United States invades Spanish held Puerto Rico, meets little resistance and conquers the Island.

US/Spanish War Ends, Following defeats in Cuba and the Philippines, and both of its fleets incapacitated, Spain asks for peace On August 12th , 1898 and The United States gains almost all of Spain's colonies in the treaty, including the Philippines, Guam and Puerto Rico. 1899 Aspirin, Felix Hoffman, a German Chemist who worked for Bayer, investigated using a new acetylsalicylic acid as a less-irritating replacement for standard common salicylate medicines and together with other chemists created Aspirin for pain relief. Aspirin has been replaced by paracetamol and ibuprofen over recent years for pain relief but is widely used as a preventive treatment for heart attacks and strokes. Philippine�American War, Following America gaining control of the Philippines as part of the ending of the Spanish-American War. The Philippines declared war against the United States requiring independence from America. The war continued until 1902 when the Philippine President Emilio Aguinaldo surrenders. In 1916 , the United States granted the Philippines autonomy and promised eventual self-government, which came in 1934.

In 1946, following World War II, the Philippines would be granted full independence. The Great Blizzard, 1899's Great Blizzard affected the South more than the North, and its reports gave it an extremely cold weight and density of air. It started on February 11th and despite its largely more southerly influence it reached -61º F in Montana and -47º F in Nebraska. Snow started falling on February 12th, and Washington D.C. had over twenty inches of snow falling, with New Jersey reaching an astonishing thirty-four inches. New Orleans was iced over, as were parts of the Mississippi River. By February 14th the temperatures started to rise again. Second Boer War, The Second Boer War started on October 11th, and was a result of the Boer's unhappiness with Britain's reinforcement of its troops in South Africa, although its primary cause was more to do with Paul Kruger's refusal to give the non-Dutch inhabitants of the region their political rights and share of the country's means. The British High Commissioner had reacted badly to this and insisted on the British control or participation in the Transvaal's gold mines.

The Boer armies attacked the still weak British forces in Natal and the Transvaal, and the northern parts of the Cape Colony had joined the Boers to besiege Ladysmith, Mafeking and Kimberley. The British, under Kitchener and Roberts, had defeated the larger parts of the Boer field army, but the war continued until 1902. Facts about the Sherman Antitrust Act for Kids | The Free Resource Facts about the Sherman Antitrust Act for Kids Live Search Education Facts about the Sherman Antitrust Act for Kids It prohibits certain business activities that federal government regulators deem to be anticompetitive, and requires the federal government to investigate and pursue trusts, companies, and organizations suspected of being in violation. It was the first federal statute to limit cartels and monopolies, and today still forms the basis for most antitrust litigation by the United States federal government. However, for the most part, politicians were unwilling to refer to and enforce this law until Theodore Roosevelt ’s Presidency (1901–1909) and beyond. The Sherman Antitrust Act is named after its author, Senator John Sherman, an Ohio Republican , the chairman of the Senate Finance Committee, who was also Rockefeller’s colleague.

After being ratified in the Senate on April 8, 1890 by a vote of 51-1, the Sherman Act passed unanimously (242-0) in the House of Representatives on June 20, 1890, and was then signed into law by President Benjamin Harrison on July 2, 1890. Around the world, what U.S. lawmakers and attorneys call “antitrust” is more commonly known as “competition law.” The legislative history and the voluminous literature which was generated in the course of the enactment and during fifty years of litigation of the Sherman Act give no hint that such was its purpose. The goal was to prevent restraints of free competition in business and commercial transactions which tended to restrict production, raise prices, or otherwise control the market to the detriment of purchasers or consumers of goods and services, all of which had come to be regarded as a special form of public injury. For that reason the phrase “restraint of trade,” which, as will presently appear, had a well understood meaning in common law, was made the means of defining the activities prohibited.

The addition of the words “or commerce among the several States” was not an additional kind of restraint to be prohibited by the Sherman Act, but was the means used to relate the prohibited restraint of trade to interstate commerce for constitutional purposes, Atlantic Cleaners & Dyers v. United States , 286 U.S. 427, 286 U.S. 434, so that Congress, through its commerce power, might suppress and penalize restraints on the competitive system which involved or affected interstate commerce. For example, the Clayton Act added certain practices to the list of impermissible activities: price discrimination between different purchasers, if such discrimination tends to create a monopoly exclusive dealing agreements tying arrangements mergers and acquisitions that substantially reduce market competition. A modern trend has increased difficulty for antitrust plaintiffs as courts have come to hold plaintiffs to increasing burdens of pleading. Share on Pinterest Sherman Anti-Trust Act of 1890 Sherman Anti-Trust Act of 1890 Reuse Permissions Page Content The Sherman Antitrust Act (Sherman Act, July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C.

1–7 ) was the first United States Federal statute to limit cartels and monopolies. It falls under antitrust law. The Act provides: "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal".The Act also provides: "Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony. The Act put responsibility upon government attorneys and district courts to pursue and investigate trusts, companies and organizations suspected of violating the Act. The Clayton Act (1914) extended the right to sue under the antitrust laws to "any person who shall be injured in his business or property by reason of anything forbidden in the antitrust laws.". Under the Clayton Act, private parties may sue in U.S. district court and should they prevail, they may be awarded treble damages and the cost of suit, including reasonable attorney's fees.

John Sherman (1823-1900) was the younger brother of the American Civil War general William Tecumseh Sherman. He became a U.S. senator from Ohio and served as a chairman of the Senate finance committee. He also served as a member of the U.S. Cabinet, including Secretary of State under President William McKinley and Secretary of the Treasury under President Hayes. Sherman was an expert on the regulation of commerce and was the chief author of the Sherman Antitrust Act. This ground breaking piece of legislation was the result of intense public opposition to the concentration of economic power in large corporations and in combinations of business concerns (i,e., trusts) that had been taking place in the U.S. in the decades following the Civil War. Opposition to the trusts was particularly strong among farmers, who protested the high charges for transporting their products to the cities by railroad. The Sherman Antitrust Act was the first measure enacted by the U.S. Congress to prohibit trusts (or monopolies of any type). Although several states had previously enacted similar laws, they were limited to intrastate commerce. The Sherman Antitrust Act, in contrast, was based on the constitutional power of Congress to regulate interstate commerce.

It was passed by an overwhelming vote of 51 to 1 in the Senate and a unanimous vote of 242 to 0 in the House, and it was signed into law by President Benjamin Harrison. The first part of Section 8 of the U.S. Constitution (with the interstate commerce clause underlined) states: The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; To borrow Money on the credit of the United States; To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes; To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States; To coin Money, regulate the value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; ... The Sherman Antitrust Act (the full text of which can be found here ) authorized the Federal Government to dissolve the trusts.

It began with the statement: "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal." And it established penalties for persons convicted of establishing such combinations: ". . . shall be punished by fine not exceeding $10,000,000 if a corporation, or, if any other person, $350,000, or by imprisonment not exceeding three years, or by both said punishments, in the discretion of the court." Enforcement For more than a decade after its passage, the Sherman Antitrust Act was invoked only rarely against industrial monopolies, and then not successfully. Ironically, its only effective use for a number of years was against labor unions, which were held by the courts to be illegal combinations. This was the result of intense political pressure from the trusts together with the loose wording of the Act. Its critics pointed out that it failed to define such key terms as combination, conspiracy, monopoly and trust. Also working against it were narrow judicial interpretations as to what constituted trade or commerce among states.

Five years after its passage, the Supreme Court in effect dismantled the Sherman Antitrust Act in United States v. E. C. Knight Company (1895). The Court ruled that the American Sugar Refining Company, one of the other defendants in the case, had not violated the Act despite the fact that it controlled approximately 98 percent of all sugar refining in the U.S. The Court's explanation was that the company's control of manufacturing did not constitute control of trade. President William McKinley launched the trust-busting era in 1898 when he appointed several senators to the U.S. Industrial Commission. The Commission's subsequent report to President Theodore Roosevelt then laid the groundwork for Roosevelt's attacks on trusts and finally resulted in the successful employment of the Act. In a seminal 1904 decision, the Supreme Court upheld the Federal Government's suit under the Sherman Antitrust Act to dissolve the Northern Securities Company (a railroad holding company) in State of Minnesota v. Northern Securities Company.

Then, in 1911, after years of litigation, the Court found Standard Oil Company of New Jersey in violation of the Sherman Antitrust Act because of its excessive restrictions on trade, particularly its practices of eliminating competitors by buying them out directly and by driving them out of business by temporarily slashing prices in a given region. In this historic decision, the Supreme Court established an important legal standard termed the rule of reason. It stated that large size and monopoly in themselves are not necessarily bad and do not violate the Sherman Antitrust Act. Rather, it is the use of certain tactics to attain or preserve such position that is illegal. The Court ordered Standard Oil to dismantle 33 of its most important affiliates and to distribute the stock to its own shareholders and not to a new trust. The result was the creation of a number of completely independent and vertically integrated oil companies, each of which ranked among the most powerful in the world. The consequent vigorous competition gave a big impetus to innovation and expansion of the oil industry as a whole. Click here to download the full text of the regulations.

Source: US Department of Justice Updated 12/3/08 1890 in Law: McKinley Tariff, Sherman Antitrust ACT, Sherman Silver Purchase ACT, List of United States Supreme Court Cases, Volume: Amazon.es: LLC Books: Libros en idiomas extranjeros DescripciÃ³n del producto Reseña del editor Chapters: McKinley Tariff, Sherman Antitrust Act, Sherman Silver Purchase Act, List of United States Supreme Court cases, volume 132, List of United States Supreme Court cases, volume 137, List of United States Supreme Court cases, volume 134, Hans v. Louisiana, List of United States Supreme Court cases, volume 133, Separate Car Act, Davis v. Beason, List of United States Supreme Court cases, volume 135, Late Corporation of the Church of Jesus Christ of Latter-Day Saints v. United States, List of United States Supreme Court cases, volume 136, 1890 in organized crime, In re Neagle, Kenrick v. Lawrence, Brussels Conference Act of 1890, . Source: Wikipedia. Pages: 69. Not illustrated.

Free updates online. Purchase includes a free trial membership in the publisher's book club where you can select from more than a million books without charge. Excerpt: The Sherman Antitrust Act (Sherman Act, July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. 1-7) requires the United States Federal government to investigate and pursue trusts, companies and organizations suspected of violating the Act. It was the first Federal statute to limit cartels and monopolies, and today still forms the basis for most antitrust litigation by the United States federal government. However, for the most part, politicians were unwilling to use the law until Theodore Roosevelt's Presidency (1901-1908). The Sherman Act was passed in 1890 and was named after its author, Senator John Sherman, an Ohio Republican, the chairman of the Senate Finance Committee..The Sherman Act followed Ohio's Valentine Anti-Trust Act (1898).

After passing in the Senate on April 8, 1890 by a vote of 51-1, the Sherman Act passed unanimously (242-0) in the House of Representatives on June 20, 1890, and was then signed into law by President Benjamin Harrison on July 2, 1890. Despite its name, the Act has fairly little to do with "trusts." Around the world, what U.S. lawmakers and attorneys call ...More: http: //booksllc.net/?id=46693 No es necesario ningÃºn dispositivo Kindle. DescÃ¡rgate una de las apps de Kindle gratuitas para comenzar a leer libros Kindle en tu smartphone, tablet u ordenador. Apple in passing the sherman antitrust act (1890), congress intended to in passing the sherman antitrust act (1890), congress intended to This conversation has been flagged as incorrect. New answers have been added below ....

Get an answer in passing the sherman antitrust act (1890), congress intended to Original conversation User: in passing the sherman antitrust act (1890), congress intended to Weegy: The Sherman Antitrust Act (Sherman Act,[1] July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. ?? 1?7) requires the United States federal government to investigate and pursue trusts, companies, and organizations suspected of violating the Act. [ It was the first Federal statute to limit cartels and monopolies, and today still forms the basis for most antitrust litigation by the United States federal government. However, for the most part, politicians were unwilling to refer to the law until Theodore Roosevelt's presidency (1901?1909). ] User: whats a robber baron Weegy: how can i help you ? Implications of the new Department of Justice Implications of the new Department of Justice Published: Last Edited: 23rd March, 2015 This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

The Sherman Antitrust Act of 1890 "requires the United States Federal government to investigate and pursue trusts, companies and organizations suspected of violating the Act. It was the first Federal statute to limit cartels and monopolies, and today still forms the basis for most antitrust litigation by the United States federal government" (Wikipedia, 2010, para.1). After several ground-breaking cases involving Standard Oil, the Chicago Board of Trade, U.S. Steel and the American Tobacco Company, the Federal Trade Commission (FTC) Act and the Clayton Act were passed in 1914 to strengthen antitrust laws and federal oversight of trade practices. In 1933 under President Roosevelt, the Anti-Trust Division of the U.S. Department of Justice (DOJ) was formally organized and in 1948, the DOJ and FTC established a formal liaison agreement. In 1962, the Antitrust Civil Process Act was enacted and in 1968, the original merger guidelines were issued.

In 1974 and 1976 respectively, the Antitrust Procedures and Penalties Act and Hart-Scott-Rodino Antitrust Improvements Act were passed to clarify antitrust procedures and penalties. Since then, the DOJ and FTC have issued new merger guidelines in 1982, 1984, 1992 and 1997. In 2006, the DOJ and FTC issued their joint Commentary on the Horizontal Merger Guidelines (U.S. Department of Justice, 2010, History of the Antitrust Division). "The goal of the antitrust laws is to protect economic freedom and opportunity by promoting free and fair competition in the marketplace" (U.S. Department of Justice, 2010, Antitrust Division, para. 2). "Most particularly, Section 7 of the Clayton Act prohibits mergers if 'in any line of commerce or in any activity affecting commerce in any section of the country, the effect of such acquisition may be substantially to lessen competition, or to tend to create a monopoly'" (U.S. Department of Justice and Federal Trade Commission, 2010, p. 1).

The Department of Justice and the Federal Trade Commission issue the merger guidelines to outline their principal analytical techniques, practices, and enforcement policy with respect to mergers and acquisitions. If a merger is deemed to be potentially harmful to competition, the agencies may challenge them. But, they also try to avoid unnecessary interference with mergers that are not likely to be harmful (U.S. Department of Justice and Federal Trade Commission, 2010). On August 19, 2010, the DOJ and FTC issued revised Horizontal Merger Guidelines. The goal of the revised merger guidelines is to ensure transparency in the oversight process so that all organizations that may wish to pursue mergers are aware of and understand the criteria that government oversight officials use to evaluate potential mergers and enforce antitrust laws. The new guidelines do not mean there has been a change in merger review policy but they do take into account legal and economic developments that have occurred since the 1992 revision (Quinn, 2010).

These new guidelines differ from the 1992 guidelines (updated in 1997) in several important ways (Federal Trade Commission, 2010): Clarify that merger analysis does not use a single methodology, but is a fact-specific process through which the agencies use a variety of tools to analyze the evidence to determine whether a merger may substantially lessen competition. Introduce a new section on "Evidence of Adverse Competitive Effects." This section discusses several categories and sources of evidence that the agencies, in their experience, have found informative in predicting the likely competitive effects of mergers. Explain that market definition is not an end itself or a necessary starting point of merger analysis, and market concentration is a tool that is useful to the extent it illuminates the merger's likely competitive effects. Provide an updated explanation of the hypothetical monopolist test used to define relevant antitrust markets and how the agencies implement that test in practice. Update the concentration thresholds that determine whether a transaction warrants further scrutiny by the agencies. Provide an expanded discussion of how the agencies evaluate unilateral competitive effects, including effects on innovation. Provide an updated section on coordinated effects. The guidelines clarify that coordinated effects, like unilateral effects, include conduct not otherwise condemned by the antitrust laws.

Provide a simplified discussion of how the agencies evaluate whether entry into the relevant market is so easy that a merger is not likely to enhance market power. Add new sections on powerful buyers, mergers between competing buyers, and partial acquisitions. Of these significant changes, the market concentration thresholds and the effects on innovation are likely to be the most impactful. Market Concentration Market concentration measures the percentage of the market output produced by the largest firms (O'Sullivan, 2010). It is an indicator of the probability that a merger will result in anti-competitive behavior by the merged company (unilateral effects) or between the merged company and its likely competitors (coordinated effects). Market concentration is often one of the primary criteria used by the DOJ/FTC to evaluate potential mergers. Moreover, because antitrust laws and the merger guidelines explicitly state that in any given proposed merger arrangement that there may not be objective, empirical, quantifiable evidence that proves this probability is too high, market concentration is sometimes used as a surrogate in the evaluation process along with other market evidence. Furthermore, when market shares have been fairly stable over time, the DOJ/FTC give more weight to market concentration measures (U.S.

Department of Justice and Federal Trade Commission, 2010). Therefore, market concentration criteria can have a very significant impact on how the oversight agencies view a proposed merger. Market concentration analysis by the DOJ/FTC is generally done by employing projected market shares and/or projected market prices (U.S. Department of Justice and Federal Trade Commission, 2010). The agencies will define the relevant market, identify the market participants, research each participant's current market share and then project the likely post-merger market shares and/or market prices of the remaining participants. They may also evaluate the ease of entry into the market by other potential competitors and the ease of exit of existing competitors. In any case, the new 2010 guidelines did not significantly change this process, but an alternative measure does provide some insight into the direction of this analysis by the agencies. The Herfindahl-Hirschman Index (HHI) is an alternative measure of market concentration. The 2010 merger guideline revisions updated the 1992/1997 guidelines by changing the classification of the concentration of markets by their HHI as follows (U.S.

Department of Justice and Federal Trade Commission, 1997 and 2010): Market Category > 2,500 +39% What does this tell us about the direction of the oversight agencies as they evaluate market concentration? One explanation might be that the agencies determined from their experience since the 1992-1997 guidelines that the HHI market concentration classifications were too low. The cases they reviewed may have shown that the new guidelines were more appropriate given their experience. However, if we assume that all other things being equal, the 1992-1997 HHI classifications were appropriate at the time, we may learn that the agencies are recognizing some trends that have occurred over the last eighteen years. Mathematically, the HHI is computed as the sum of the squares of the market shares of the market participants. This process places greater weight on the market shares of the market leaders (O'Sullivan, 2010).

For instance, if there are eight participating firms in a relevant market and their market shares are equal (12.5% each), the HHI is computed as: 12.52 + 12.52 + 12.52 + 12.52 + 12.52 + 12.52 + 12.52 + 12.52 = 1,250 However, if the market shares are not equally distributed, the HHI could look like: 352 + 252 + 102 + 102 + 52 + 52 + 52 + 52 = 2,150 Or, if the number of market participants has decreased through previous mergers or market exit, the HHI could look like: 452 + 252 + 102 + 102 + 102 = 2,950 In the first example, the HHI would classify this market as moderately concentrated under the old standards, but relatively unconcentrated under the new standards.

In the second example, this market would be classified as highly concentrated under the old standards but moderately concentrated under the new standards. In the final example, this market would be classified as highly concentrated under either standard. We can we conclude three things from the differences between the 1992-1997 standards and the revised 2010 standards: The DOJ/FTC have determined from their experience that the 1992-1997 thresholds were set too low and this resulted in consistent deviations from the standards to render fair decisions. The distribution of market shares across relevant markets has shifted to the point that there is greater market concentration in the market leaders, but not to the detriment of competitive practices or public interest. The number of market participants across relevant markets has declined to the point where there is greater market concentration in the market leaders, but not to the detriment of competitive practices or public interest. While all three of these conclusions are likely true, there is a fourth conclusion that cannot be arrived at intuitively or mathematically - it must be judged on its explicit inclusion. Over the last eighteen years since the last revisions were issued, the trends in global competition have dramatically changed market definitions and market participants.

American firms have been economically exposed in the competitive, global marketplace by certain standards of evidence in the merger guidelines. There is an economic principle that may be obvious to some, but its complete lack of mention in the 1992-1997 guidelines is as harrowing as it is inspiring by its inclusion in the 2010 standards. It cannot be captured in the HHI or market share analyses. It is not explained by less-than-dynamic definitions of markets and market participants. What is this principle? Innovation. Innovation The effects of innovation and the ability of American firms to compete globally have been highly amplified over the last two decades. Technology-based markets and technology-based product differentiation have had an enormous impact on global competition. Comparative standards of living across global regions have created highly differentiated labor markets. Intentional and unintentional technology transfer to foreign countries that are not restricted by U.S. patent or trade laws exploded. The U.S. balance of payments situation became critical with countries such as China and India that have entered into direct competition with American firms whose ability to compete on price alone is severely hampered. Finally, government policies across the globe have elevated the importance of investment and innovation across global markets as well as in local markets.

Overall, the ability of American firms' ability to differentiate their products and services based on quality and innovation has been impaired. Their health and survival has often been dependent on the ability to recognize cost savings through mergers so the demand for mergers - especially between very large corporations - has skyrocketed. The DOJ and FTC had to act to revise its views on market concentration and innovation to respond to global competitive environments. Conclusion With its new merger guidelines in 2010, the DOJ/FTC recognized that American firms that are forced by antitrust laws to compete globally based primarily on market share and price criteria face cost structures that put them at a competitive disadvantage and incent them to move jobs and investment to foreign countries, firms and labor forces. These economic forces have come together to force the DOJ and FTC to recognize that the competitive criteria that seemed somewhat constant since the passage of the Clayton Act in 1914 have indeed changed dramatically. Throughout the 2010 merger guidelines, the DOJ and FTC address both sides of the innovation argument as it applies to antitrust enforcement and evaluation procedures. Repeatedly, they address the likelihood that a proposed merger will either diminish innovation or enhance it. They reflect on observed behaviors in consummated mergers on innovation and investment.

The assumption is that innovation and investment are important economic variables in the competitive environment that deserve much greater attention in their analyses. Innovation may allow firms to explore product differentiation, cost elimination/consolidation, price discrimination opportunities and entry into new markets. This is good for American firms as they struggle to compete in global markets. In the short run, innovation in global markets typically requires major investments that may be too great for smaller firms to take on and they may require ever greater returns to incent firms to take them on. These factors, combined with other economic variables, have rightly motivated the DOJ and FTC to re-think the factors that impact the global competitive environment and the public good and to issue new merger guidelines that appropriately reflect the role of innovation and market concentration in this new environment. These new guidelines adequately address market concentration thresholds in the global environment and should make it easier for competing firms to merge where it makes innovative, competitive sense.

Question: What was the first US Federal statute to limit cartels and monopolies, passed in 1890, that still forms the basis for most antitrust litigation by the United States federal government?
Answer: The Sherman Act