5 Centimes - Chamber of Commerce of Philippeville

Philippeville — now Skikda, Algeria — was an Algerian port city under French administration, and its Chamber of Commerce resorted to emergency small-denomination paper in 1915 because the wartime metal shortage had stripped everyday coinage from circulation almost entirely. This was a widespread phenomenon across French-administered territories; dozens of chambres de commerce issued their own necessity notes during the early war years, filling a gap the Banque de l'Algérie showed no urgency to address.

Moullot fils aîné was a well-established Marseille commercial printer with a long record of producing Algerian ephemera, which made them a practical choice for rushed wartime work. The watermark is the only security concession — modest, but enough to deter casual copying in a local market.