Which act was the first federal law designed to curb monopolies?

The Sherman Anti-Trust Act of 1890 is recognized as the first federal law specifically enacted to address monopolistic practices and promote competition. This legislation aimed to prevent companies from engaging in anti-competitive behaviors that could harm consumers or stifle market competition. The act made it illegal to restrain trade or commerce through monopolies or conspiracies and provided a legal framework for the federal government to pursue actions against businesses that violated these principles.

Its historical significance lies in the broader context of the late 19th century, when rapid industrialization and the rise of large corporations created concerns about the power these monopolies held over the economy. By establishing the foundation for antitrust laws, the Sherman Act has been pivotal in shaping U.S. economic policy and upholding market competition. Subsequent laws, like the Clayton Anti-Trust Act and the Federal Trade Commission Act, were built upon the foundation laid by the Sherman Act, but it was this act that initiated federal action against monopolies.