"With the development of the press, it has now come to pass that so soon as any event, owing to casual circumstances, receives an especially prominent significance, immediately the organs of the press announce this significance.
As soon as the press has brought forward the significance of the event, the public devotes more and more attention to it.
The attention of the public prompts the press to examine the event with greater attention and in greater detail.
The interest of the public further increases, and the organs of the press, competing with one another, satisfy the public demand.
The public is still more interested; the press attributes yet more significance to the event.
So that the importance of the event, continually growing, like a lump of snow, receives an appreciation utterly inappropriate to its real significance, and this appreciation, often exaggerated to insanity, is retained so long as the conception of life of the leaders of the press and of the public remains the same.
There are innumerable examples of such an inappropriate estimation which, in our time, owing to the mutual influence of press and public on one another, is attached to the most insignificant subjects."