1 Franc - Chambre de Commerce de Châlon-sur-Saône, Autun et Louhans 71

One of hundreds of emergency fractional notes pushed into circulation across provincial France during the First World War, when the hoarding of coins stripped small-denomination metal from everyday commerce almost overnight. The Chambre de Commerce covering Chalon-sur-Saône, Autun, and Louhans — a joint jurisdiction spanning much of Saône-et-Loire — turned to B. Arnaud in Villeurbanne, a jobbing printer better known for commercial work than banknote production.

The watermark is the sole concession to security. For a note that circulated in markets and shops, it was enough — forgery of low-denomination paper scrip was rarely worth the effort.