“ ‘I am not a rich man, and I cannot afford to bring an action for libel against you. A successful suit would cost me far more money and trouble than I should like to waste upon it. You, on the other hand, could easily afford to lose and would probably be actually benefited by a substantial increase in your circulation.

“ ‘I must ask you to print this letter in your next issue and insist also on an unqualified apology for your use of my name.

“ ‘I am sending this letter to the local Press.’ ”