'To my amazement, there were no paintings . . . but only packages, piled one atop another to the height, say, of Picasso . . . And do you know what there was inside? Banknotes! Yes, sir, banknotes, the largest denomination that existed in France then, which was enormous.' Christian Zervos is recollecting the day that Picasso took him, as a favoured confidant, to his vaults in the Banque de France. The fortune Zervos was allowed to glimpse in the mid-1930s had ridden out the Wall Street crash, and had been accumulating since before the First World War.

LRB 3 January 2008 | PDF Download