Wednesday, January 07, 2004



While in Monte Carlo in 1924, Marcel Duchamp devised a way of underwriting his new interest in gambling by selling bonds with a face value of five hundred francs each. He promised buyers a 20% dividend from his eventual winnings at the roulette table. The bonds featured a photograph - by Man Ray - of Duchamp with his head covered in shaving cream and his hair shaped into horns like Pan, the son of the gambling god, Hermes. He only sold a couple of the bonds.

see also Johnny on the Spot