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Does anybody who knows the history of cycling know if this is talking about "high wheel" (penny farthing) bikes or modern bikes with equal sized wheels? Changes the context rather if they mean high wheel bikes. The reference to bigger wheels and general suggestions of impracticality makes me think they might.

The illustration on this piece suggests 1874 is still high wheel bike territory: http://www.oldbike.eu/museum/wp-content/uploads/2011/07/1874...

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As you suggest, "a driving wheel 58 inches in diameter" is a big clue here. The safety bicycle (basically what we tend to ride nowadays) was invented in 1876, at least the version which became most popular. The so-called "penny farthing" bikes were often called just "wheels" by their owners, hence "riding a wheel" and "wheelers". Some modern clubs are still called "Something Wheelers", e.g. "Bolton Wheelers", presumably because they have a history going back to the 19th C.

There is a surprising evolution to the bicycle, leading not least to the invention of the first automobiles. See Carlton Reid's book "Roads Were Not Made for Cars" for a history of this from both a UK and US perspective.

You are correct, the end of the article mentions a driving wheel "fifty-eight inches in diameter". These are most certainly "high wheel" bikes.

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