1 Franc - Chambre de Commerce d'Oran

French Algeria's wartime and postwar small-change crisis pushed local Chambers of Commerce into issuing their own fractional paper — the Banque de l'Algérie had no mandate to plug the coin shortage, so bodies like the Oran chamber stepped in. These emergency notes circulated regionally and were theoretically redeemable at the issuing chamber, though in practice the redemption process was often slow and contested.

The JP#141-27 reference places this within the Kolsky-catalogued series of French colonial and provincial emergency issues. Oran's chamber notes from this period are reasonably available in lower grades; examples with intact watermark visibility are harder to find than the survival rate of the series might suggest.