30 Years and no definitive definition on Sherman Act
Before Standard Oil Company disbands many Americans are upset with Taft as he is not being proactive enough on amending or repealing the Act. Taft is president when Standard Oil meets the Supreme Court. A few years before Taft’s Presidency Theodore Roosevelt worked hard on breaking up trusts, even earning the name trust buster. When Taft becomes President there is still a heavy focus on the Sherman Anti-Trust Act, which is used frequently. “Since the Taft administration has chosen to enforce the Sherman act, the time for amendment or repeal has arrived, and the duty of meeting the emergency cannot be postponed.” 14 However, before Standard Oil Company is ordered to disband many Americans are upset with Taft as he is not being proactive enough in amending or repealing the confusing Act. In accordance with citizens saying he is not being proactive he says, “under these conditions. I am entirely opposed to an amendment of the anti-trust law. It is now a valuable government asset and instrument.”15
Following Taft is Woodrow Wilson and eventually, by 1914 the Sherman Anti-Trust Act receives help with the implantation of the Clayton Act and the Federal Trade Commission. Both are used to prevent monopolies from forming. The positive about the two is how they had firm foundations when defining what is and is not legal. The clear and consistent definitions allowed for trusts and the business world to easily be monitored by the Federal Government. Clear and consistent definitions are the exact opposite of what the open-ended and controversial Sherman Ant-Trust Act offered.
Footnotes
14 “SHERMAN ACT SHOULD NOW BE EITHER AMENDED OR REPEALED.” Wall Street Journal (1889-1922). July 9, 1910.
15 “TAFT OPPOSED TO ANY AMENDMENT OF SHERMAN ANTI-TRUST LAW.: SEES NO REASON WHY RESULT OF TWENTY YEARS' TEST SHOULD BE IMPERILLED BY EXPERMENTS. TAFT AGAINST ANY AMENDMENT OF SHERMAN ANTI-TRUST LAW.” Wall Street Journal (1889-1922). September 19, 1911.