Did Horace really write "Many shall be restored that are now fallen many shall fall that are now in honor"?

This is one of those "famous" quotes that I've known for a while now, but only recently have I had the curiosity to look into a bit more. Supposedly it's a quote from Horace's "Ars Poetica"; however, going through the full English translation of the text over at Project Gutenberg,... show more This is one of those "famous" quotes that I've known for a while now, but only recently have I had the curiosity to look into a bit more. Supposedly it's a quote from Horace's "Ars Poetica"; however, going through the full English translation of the text over at Project Gutenberg, the quote is nowhere to be found. Moreover, the correct Latin title seems to be "De Arte Poetica".

So does anyone know whether the "famous" quote is actually a hoax? Or does it belong to someone else? (as it happens, my Googling has thus far revealed nothing - wherever the quote is used, it's taken for granted that it does belong to Horace)
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