France - Emergency
The term "emergency note" covers any note, bond or debt mechanism that was issued as a result of the central bank not being able to provide banknotes or coinage. Typically emergency notes were used during wartime. One group of these notes are the Chamber of Commerce notes of WWI shown here. At the start of the first world war in 1914, France immediately suspended use of gold coins and the conversion of banknotes to gold. As inflation grew, French coinage was being hoarded for its gold and silver content. Merchants were unable to process small transactions with customers. In August of 1914, the Chamber of Commerce of Paris requested, and was authorized to issue small bearer bonds in denominations of 0.25F, 0.5F, 1F, 2F, that would be legal tender among the Paris merchants that agreed to accept them. As financial backing, the Chamber of Commerce would place an equivalent amount of cash on deposit with the Banque de France. Soon thereafter, the Chambers of Commerce of other cities throughout France implemented the same mechanism as done in Paris, and issued their own bearer bonds for local use. This system was maintained for at least five years, at which time its faults started to show; paper money was not able to withstand the constant handling required of small denominations, and the bonds were being used beyond the local scope of each Chamber of Commerce. In 1921, it was decided to issue bronzed plated aluminum "Jetons", in 0.5F, 1F and 2F denominations, to replace the paper bearer bonds. These Jetons were usable across the country. These Chamber of Commerce notes are quite common, and prices generally range from $5-$20 today.
WWI Chamber of Commerce Issues
Orange, Black.
- Printer: J. Brabo
- 3/30/1916
- Printer: Du Progrès
- 9/15/1914
Arras Cathedral Ruins
- 12/31/1923
- Mayeur, A. FEC (F)
- Printer: T.H. Bouquet & Cie, Auch
- 7/6/1921
- Printer: Delostal & Germa, Aurillac
- 1917-1923
- Tourdes, F. INV (F)
Monument to Pierre Gassendi
- Printer: Moullot, Marseille
- 7/19/1917
- André, F. FEC (F)
Lion, Louis-Oscar Roty's Sower
- Printer: B. Arnaud, Lyon-Paris
- 11/4/1918
War Memorial
- 1915
- Pigeon, L. FEC (F)
- Printer: Cadenat Fréres, Béziers
- 6/9/1915
- Magrou INV (F)
Statue of Pierre Paul-Riquet and Canal du Midi
- Printer: Cadenat Fréres, Béziers
- 11/10/1918
- Louis Paul INV (F)
- Printer: Wetterwald Frères
- 1917
- Rogagneau, F.M. DEL
- Rogagneau, F.M. INV (F)
- Printer: Wetterwald Frères
- 12/31/1926
- Rogagneau, F.M. DEL
- Rogagneau, F.M. INV (F)
- Printer: Delostal & Germa, Aurillac
- 12/31/1924
- Bordes, G. INV (F)
Louis-Oscar Roty's Sower
- Printer: P. Dumont, Limoges
- 8/16/1917
- Printer: Roy & Valade, Amiens
Reims Cathedral
- Printer: Debar
- 10/10/1920
George Sand
- Printer: Mellottee
- 5/10/1925
- Watermark: Bee pattern
- Laprade, A. INV (B)
Statue of Général Bertrand
- Printer: Mellottee
- 3/2/1922
- Pigeon, L. FEC (F)
- Laprade, A. INV (B)
- Printer: Lyon, Paris
- 5/22/1920
- Arnaud, B. INV (F)
Saint-Jacques Church and Statue Of Duquesne
- Printer: Richard, Paris
- 1920
- Printer: Richard, Paris
- 1920
Arms of Dunkerque, Nautical References
- Printer: Chaix, Paris
- ND
- Embossing
- Watermark: Leaves
- Leclerc, L. INV (B)
- 8/11/1917
Plat Gousset Beach and Casino
- Printer: Ch. Valin, Caen
- 10/3/1916
Mont Saint-Michel
- Printer: Y. Caraês, Granville
- 7/19/1915
- Printer: Imprimerie Génèral, Grenoble
- 8/11/1917
- without engraver's name
- Farcy INV (F)
- Printer: Imprimerie Génèral, Grenoble
- 8/11/1917
- with engraver's name
- Farcy INV (F)
Pierre Terrail, seigneur de Bayard (left), François de Bonne, duc de Lesdiguières (right)
- Printer: Imprimerie Génèral, Grenoble
- 8/11/1917
- Coquand SC
- Farcy DEL (B)
Bistre.
- Printer: Moderne, Nantes
- 1915
Red.
- Printer: Moderne, Nantes
- 1915
Blue.
- Printer: Moderne, Nantes
- 1916
Slate. Cathédrale de Saint-Julien de Mans
- Printer: H.D.
- 1/24/1922
- Printer: A. Waton, St. Etienne
- 1/1/1920
- Printer: A. Waton, St. Etienne
- 1/1/1920
Red.
Monument à la mémoire des Enfants; Saint-Étienne Bridge
- Printer: P. Dumont, Limoges
- ND (10/1/1919)
- Series B
- Watermark: Bee pattern
- Printer: B. Arnaud, Lyon-Paris
- 9/25/1915
- Printer: B. Arnaud, Lyon-Paris
- 9/9/1918
- Printer: Rey, Lyon
- 6/15/1922
- Deuverche SC
- Teston, J. INV (F)
- Printer: Rey, Lyon
- 6/15/1922
- Arnaud, B. SC
- Larbitray, M. INV (F)
- Printer: Moullot, Marseille
- 8/12/1914
- Valère Bernard INV (F)
- Printer: B. Arnaud, Lyon-Paris
- 11/23/1917
- Printer: Herbin & Bouchè, Montluçon
- 4/12/1920
- Printer: B. Arnaud, Lyons
- 1/6/1921
- Arnavielhe, P. INV (F)
- Printer: B. Arnaud, Lyon-Paris
- 5/12/1916
Olive Green.
- Printer: Moderne, Nantes
- Printer: P. Morer-Benezet, Perpignan
- 7/22/1915
- Printer: Berger-Levrault, Nancy-Paris-Strasbourg
- 1/13/1921
- Printer: Robaudy, Cannes
- 4/19/1917
- Simon, M. INV (F)
- 4/19/1917
- Simon, M. INV (F)
- Printer: Robaudy, Cannes
- 4/19/1917
- Like with dates overprinted 1920/1921 in red
- Simon, M. INV (F)
- Printer: Robaudy, Cannes
- 4/30/1920
- Series 232
- Watermark: None
- Moussa, G.A. INV (F)
- Printer: Robaudy, Cannes
- 4/30/1920
- Series 89
- Watermark: None
- Imbert & Cie INV (F)
- Printer: Robaudy, Cannes
- 4/30/1920
- Series 303
- Watermark: Bee pattern
- Like on watermarked paper
- Moussa, G.A. INV (F)
- Printer: Robaudy, Cannes
- 4/30/1920
- Series 140
- Watermark: Bee pattern
- Like on watermarked paper
- Imbert & Cie INV (F)
- Printer: Barma, Nice
- Series 11
- Watermark: None
- Imbert & Cie INV (F)
- Printer: Barma, Nice
- Series 21
- Watermark: None
- Like with dominant red color
- Imbert & Cie INV (F)
- Printer: Nimes
- Series 28
- Watermark: Bee pattern
- Achiardi, P. INV (F)
- Printer: Richard, Paris
- 9/30/1915
Blue.
- 12/31/1925
- 12/31/1925
- 12/31/1925
- 12/31/1925
- Printer: du Loiret
- 5/15/1924
- 3/10/1920
- 3/10/1920
Cathedrale St-Front, Tour de Vésone
- Printer: Ronteix, Périgeux
- 6/24/1916
Michel de Montaigne (left), Pierre Daumesnil (right); Perigeux Cathedral
- Printer: Ronteix, Périgeux
- 11/5/1917
- Printer: P. Morer-Benezet, Perpignan
- 11/11/1915
- Printer: P. Morer-Benezet, Perpignan
- 10/22/1919
- Watermark: Bust of Commander Joffre with text TENIR COUTE QUE COUTE (Stand Firm)
Commander Joseph Joffre (left), Charles Martel (right)
- Printer: G. Paré, Angers
- 1915-10
- Andre, L. INV (F)
- Printer: Moullot, Marseille
- 12/31/1922
- Watermark: Bee pattern
- Moul, Ch. INV (F)
- Printer: Marseillaise
- 12/31/1922
- Moul, Ch. INV (F)
- 6/28/1915
- 7/18/1917
- Coquard, J. INV
- De Meyère, M. SC (B)
- Printer: Keller Fréres, Angouléme
- 2/25/1920
- Printer: Moderne, Nantes
- 1920
- Printer: R. Prud'homme, St. Brieuc
- 6/7/1921
- Printer: A. Waton, St. Etienne
- 1/12/1921
- 6/30/1925
- De Ruaz, E. INV (F)
- Printer: Nouvelle E. Francois, Troyes
- 8/12/1920
- Printer: B. Arnaud, Lyon-Paris
- Printer: L. Cassan Aîné, Toulouse
- 9/23/1920
- Printer: B. Arnaud, Lyon-Paris
- 12/23/1920
- Printer: B. Arnaud, Lyon-Paris
- 12/23/1920
- Printer: Tourangelle, Tours
- 5/1/1917
- Sauroy INV
- Vaudou SC (F)
- Printer: Tourangelle, Tours
- 12/27/1920
- Autret, P. SC
- Fachet, P. DEL (B)
- 1/1/1926
- 2/23/1915
- Printer: B. Arnaud, Lyon-Paris
- 1/18/1916
WWII Chamber of Commerce Issues
- June 1940
Chamber of Commerce Issues from Algeria
- MK103
- Printer: Moullot, Marseille
- 5/18/1915