It seems to be some reference to this, although I can't find anything about sacks and snakes. As stated by u/stovetop only the rich were in parliament, so if this did happen it was just one group of rich greedy people turning on another group of rich greedy people. Nothing to get excited about.

[–] egrets@lemmy.world 7 points 2 months ago

Robert Molesworth in a session on 12th August 1720:

in his Opinion, they ought, on this Occasion, to follow the Example of the ancient Romans, who having no Law against Parricide [...] adjudg'd the guilty Wretch to be thrown alive, sew'd up in a Sack, into the Tyber. [...] As he look'd upon the Contrivers and Executors of the villainous South Sea Scheme, as the Parricides of their Country, he should be satisfy'd to see them undergo the same Punishment.

No specific mention of snakes, but that was part of the Roman "punishment of the sack".

[–] Isoprenoid@programming.dev 4 points 2 months ago

it was just one group of rich greedy people turning on another group of rich greedy people. Nothing to get excited about.

Sounds better than what we currently have:

Groups of poor desperate people turning on other groups of poor desperate people.