Chambre de Commerce banknotes
lot 1 SOLD
lot 2 SOLD
lot 3 SOLD
lot 4 SOLD
lot 5 SOLD
lot 6 SOLD
lot 7 SOLD
lot 2 SOLD
lot 3 SOLD
lot 4 SOLD
lot 5 SOLD
lot 6 SOLD
lot 7 SOLD
Emergency paper money circulated in France during wartime and extended after the end of the Great War. This was because with the war in progress and the coin shortage, the central bank was unable to provide this service. In 1914 after the start of the Great War, France suspended the use of gold coins and the conversion of banknotes to gold. These local banknotes were designed by lesser known artists and printed by local printers.
As the Great War progressed, inflation was rampant and French coinage was hoarded for its gold and silver content. In addition with the scarcity of metal for coinage, French merchants were unable to process small transactions with customers. Two months after the start of the Great War, in August 1914 the Paris Chamber of Commerce received authorization to issue small bearer bonds in denomination of 0.25F, 0.50F, 1 Franc and 2 Francs. These notes were considered legal tender among the merchants that accepted them in Paris. As collateral, the Chamber of Commerce placed an equivalent amount of french francs on deposit with the Banque de France. Quickly the Chambers of Commerce of other cities copied this idea and started issuing these small denomination notes across France.
As the Great War progressed, inflation was rampant and French coinage was hoarded for its gold and silver content. In addition with the scarcity of metal for coinage, French merchants were unable to process small transactions with customers. Two months after the start of the Great War, in August 1914 the Paris Chamber of Commerce received authorization to issue small bearer bonds in denomination of 0.25F, 0.50F, 1 Franc and 2 Francs. These notes were considered legal tender among the merchants that accepted them in Paris. As collateral, the Chamber of Commerce placed an equivalent amount of french francs on deposit with the Banque de France. Quickly the Chambers of Commerce of other cities copied this idea and started issuing these small denomination notes across France.
Source: http://navonanumis.blogspot.com/2015/10/the-chambre-de-commerce-emergency.html
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