The Great Trusts

The Great Trusts were large monopolies or combinations of businesses in the late 19th and early 20th centuries that controlled significant industries like oil, steel, and railroads. These trusts were formed to limit competition, set prices, and maximize profits, often restricting consumers' choices and hindering fair business practices. Public concern grew over their power and influence, prompting government efforts to regulate or break them up through antitrust laws, notably the Sherman Antitrust Act of 1890, aimed at promoting fair competition and preventing monopolistic practices.