1 Franc - Chambre de Commerce de Toulouse 31

Toulouse's Chamber of Commerce began issuing its own fractional notes in 1914 as small change essentially vanished from French circulation — hoarding hit bronze and nickel coins almost immediately after mobilization was declared in August. Chambers of Commerce across France were granted emergency authority to fill that gap, and Berdoulat, a local Toulouse printer, handled production for this series rather than a Paris security house.

The JP#122 reference covers eight date variants, which suggests sustained use well into the war years rather than a single print run.