1 Franc - Chambre de Commerce de Villefranche-sur-Saône 69

French chambers of commerce were authorized to issue small-denomination emergency notes — known as monnaie de nécessité — during and after World War I, filling a void left by the hoarding of coins that began almost immediately in August 1914. Villefranche-sur-Saône's chamber issued into the early 1920s, well past the point where most larger cities had wound down their local currency programs. The 1921 date places this note among the later regional issues, printed by Xavier Perroux & Fils of Macon, a provincial house responsible for several Saône-et-Loire and Rhône-area chamber notes.

JP#129-17 carries a watermark — relatively uncommon among the smaller chamber issues, where cost-cutting often meant plain paper.