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Governing The Trusts & The Gospel of Wealth. Sen. John Sherman. 1. Senator from OH 2. Brother of famed Civil War General, William T. Sherman. 3. Supported legislation that would penalize the Trusts/monopolies for “restraint of trade” 4. Bill named after him in his honor.
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Sen. John Sherman • 1. Senator from OH • 2. Brother of famed Civil War General, William T. Sherman. • 3. Supported legislation that would penalize the Trusts/monopolies for “restraint of trade” • 4. Bill named after him in his honor
Sherman Anti-Trust Act • 1. First Measure by Congress to prohibit Trusts or Monopolies. • 2. Prevents restraint of trade due to Congress’s regulation of interstate commerce. • 3. Prevents price fixing to prevent competition. • 4. Treats Labor Unions as companies who have a monopoly on labor.
The Gospel of Wealth • 1. Created by Andrew Carnegie after a dream he had about going to Hell. • 2. Believed the Wealthy had been blessed by God, and were responsible for helping their fellow human beings. • 3. Built 300 Libraries, and paid for Teacher Pensions. Also built 2 Carnegie Halls.
