FTC
The Sherman Anti-Trust Act spelled it out for all to hear that monopolies and trusts, and attempts at them, were hereby considered illegal. Every contract or conspiracy that was in restraint of trade or interstate commerce was also deemed illegal. The act further mentions that Federal courts are empowered to restrain these companies and give injunctions, as well as, supeona people and records. There is also mention in the act of relief for injured parties. In such a way that they can sue and receive monetary relief for the damages incurred. Lastly, although ambiguous as a whole, the act does directly state that the word "person(s)" can be used as a synonym for corporations/associations. The Federal Trade Commission Act further enacts that all unfair methods of competition in commerce are made illegal. This includes persons, partnerships, or corporations, except banks, and common carriers. In order to prevent these abuses, the FTC can serve cease and desist orders, or go to federal court and seek an injunction. The commission's sole purpose is to investigate into matters of unfair competition and carry through the proper methods for eliminating these practices under the umbrella of powers it holds. This act also states that th
e commission and courts cannot, whether peacefully or forcefully, persuade an employee to quit or discontinue to communicate information with their employee and co-workers, unless to prevent an injury with no remedy or an irreparable injury. All of these acts form the backbone of antitrust and are created in the hopes of preventing certain abuses by American businesses. For example, monopoly power, pricing, concentration of industry, and corporate economic power. These acts are essentially doing their best to prevent unfair competition. Giant companies, at this time, and still today, for the most part, were using any means necessary to increase their share of the market. Some tobacco companies would give away their cigarettes just so consumers wouldn't buy their competitors, thus, driving them out of business. Some companies would buy their small competitors and then close shop. Businesses were trying to expand their reach in every industry imaginable that had anything to do with their overall industry just to have entire control. For example, railroad companies would make secret deals with, buy or merge with steel companies, wood companies, upholstery businesses, and anything you can name that would go into the manufacture and use of railroads and trains. Certain people were controlling up to 90% of their given area of the market. This is what had to stop. This is what Congress hoped to a
Some common words found in the essay are:
Anti-Trust Act, Supreme Court, Commission Act, unfair competition, anti-trust act, buy competitors, lessen competition, illegal act, sole purpose, absolute proof, secret deals,
Approximate Word count = 944
Approximate Pages = 4 (250 words per page double spaced)
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