[Congressional Record (Bound Edition), Volume 153 (2007), Part 13]
[Extensions of Remarks]
[Page 18027]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     REMEMBERING DR. HANS SENNHOLZ

                                 ______
                                 

                             HON. RON PAUL

                                of texas

                    in the house of representatives

                        Wednesday, June 27, 2007

  Mr. PAUL. Madam Speaker, I rise to recognize the life and 
achievements of Hans F. Sennholz. Dr. Sennholz was one of the foremost 
free-market economists of his generation and an inspiration to tens of 
thousands of people around the world.
   Dr. Sennholz was born on February 3, 1922 in Germany in the midst of 
the German hyperinflation crisis and experienced firsthand the Great 
Depression and the horrors of Hitler's dictatorship. After receiving 
his master's degree from the University of Marburg and a doctorate in 
political science from the University of Cologne, Dr. Sennholz received 
a Ph.D. in economics at New York University, where he studied under the 
Austrian economist Ludwig von Mises.
  In his 37 years as a professor of economics at Grove City College, 
Dr. Sennholz was a formative influence for over 10,000 students. During 
an era in which Keynesianism was the dominant economic ideology, Dr. 
Sennholz's efforts played a major role in keeping alive the flame of 
classical liberalism and market-based economics. Dr. Sennholz and his 
free market ideas were a perfect fit for Grove City, which is one of 
only two colleges in the United States which eschews federal education 
funding.
  Dr. Sennholz later became President of the Foundation for Economic 
Education, reviving the institution and renewing its mission to 
advancing the ideals of private property, individual liberty, the rule 
of law, and the free market. He also served as an adjunct scholar at 
the Ludwig von Mises Institute, from which he received the Gary G. 
Schlarbaum Prize in 2004 for his lifelong dedication to the cause of 
liberty.
  I first met Dr. Sennholz in the early 1970s during the campaign to 
legalize the private ownership of gold. He was a tremendous influence 
on me and introduced me to other eminent economists of the Austrian 
School. Dr. Sennholz consistently taught the beneficial effects of the 
gold standard and was a tireless opponent of inflation. He never ceased 
to persist in pointing out the problems of fiat currency, the evils of 
inflation, and the perils of the Federal Reserve's loose monetary 
policy.
  Dr. Sennholz passed away on Saturday, June 23, 2007 at the age of 85, 
having lived a full and rewarding life. Generations of free-market 
economists are indebted to him, his spirited teaching, and his lucid 
writing for keeping free-market economic teaching alive during trying 
times. Congress would do well to heed his advice on the importance of 
free markets and the folly of fiat currency.

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