2 Francs - Chambre de Commerce d'Angoulême [16]

The Chambres de Commerce emergency notes of 1914–1915 filled a genuine void — hoarding and the sudden demands of wartime mobilization drained metallic currency from circulation almost overnight. Angoulême's chamber was among dozens across France authorized to issue small-denomination paper under the law of 5 August 1914, each producing notes locally with whatever printing resources were available.

Keller frères was a regional commercial printer, not a security printing house. The watermarked paper was the principal safeguard against counterfeiting — modest by national standards, but adequate for notes intended for short-term local use.