When did the word trust come into use?

The OED (Oxford English Dictionary) dates use of the word trust in a business organization sense from 1825. The business or "corporate" trust came into use in the 19th-century United States, during the Gilded Age, as a legal device to consolidate industrial activity across state lines.

What was a trust in the 19th century?

Trusts in the 19th century referred to large combinations or monopolies formed by businesses in order to gain control over an industry. These trusts were a result of the industrialization and rapid growth of the economy during that time.

What was the purpose of forming a trust?

The purpose of forming a trust was to eliminate competition and create a monopoly in the market, allowing the participating companies to exert significant control over prices and production. One notable example of a trust in the 19th century was the Standard Oil Trust created by John D. Rockefeller.