P. T. Barnum

“ Under the operation of the beautiful stories of the speculative Blunt and his friends, South Sea stock, after a short lull in April, began to rise again, and the bubble swelled and swelled to a size so monstrous, and with colors so gay, that it filled the whole horizon of poor foolish John Bull—perfectly turned his bull-headed brain, and made him for the time absolutely crazy. The directors opened books on April 12th for £5,000,000 new stock, charging, however, £300 for each share of £100, or three hundred per cent, to begin with. ”

“ The growth of this monstrous, noxious bubble hatched out a multitude of young cockatrices. Not only was the stock of the India Company, the Bank of England, and other sound concerns, much increased in price by sympathy with this fury of speculation, but a great number of utterly ridiculous schemes and barefaced swindles were advertised and successfully imposed on the public. Any piece of paper purporting to be stock could be sold for money. Not the least thought of investigating the solvency of advertisers seems to have occurred to anybody. ”

“ Thousands of families saw beggary staring them in the face, grasping them with its iron hand. The consternation was inexpressible. Out of it a great popular rage began to flame up, just as fires often break out among the prostrate houses of a city ruined by an earthquake. ”