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1 Franc - Chambre de Commerce de St-Etienne 42
| Issuer | Chambre de Commerce de Saint-Étienne |
|---|---|
| Year | 1921 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Paper |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | CHAMBRE DE COMMERCE DE ST-ETIENNE UN FRANC Le Président Le Trésorier HOUILLÈRES MÉTALLURGIE ARMURERIE SOIERIES LACETS VERRERIE Imp. A. WATON St Etienne |
| Reverse description | Log in to see details |
| Reverse lettering | 1921 1924 Un franc Remboursable jusqu'au 1er Avril 1924 Délibération du 12 Janvier 1921 |
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| Comments |
French chambers of commerce gained emergency note-issuing authority during World War One when the Banque de France could not meet demand for small-denomination currency. Saint-Étienne's chamber issued extensively through the war years, but this 1921 date places it in the post-armistice continuation period, when coin shortages persisted long after the fighting stopped — small change remained genuinely scarce in provincial France well into the early twenties.
Printed locally by Waton rather than a specialist security printer, the watermark is the primary anti-counterfeiting measure — modest by contemporary standards but adequate for a note whose face value made forgery economically pointless.