Charles Mackay, Extraordinary Popular Delusions and the Madness of Crownds

Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly; and one by one.
The Mississippi scheme of John Law, which so dazzled and captivated the French people, inspired them with an idea that they could carry on the same game in England. The anticipated failure of his plans did not divert them from their intention. Wise in their own conceit, they imagined they could avoid his faults, carry on their schemes for ever, and stretch the cord of credit to its extremest tension, without causing it to snap asunder.
The English commenced their career of extravagance somewhat later than the French; but as soon as the delirium seized them, they were determined not to be outdone.
Mr. Walpole was almost the only statesman in the house who spoke out boldly against it. Although, in former times, the house had listened with the utmost attention to every word that fell from his lips, the benches became deserted when it was known that he would speak on the South-Sea question.