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50 Centimes - Chambre de Commerce de Tarbes 65
| Issuer | Chambre de Commerce de Tarbes |
|---|---|
| Year | 1915 |
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| Currency | Franc (1795-1959) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | CHAMBRE DE COMMERCE DE TARBES Délibération du 7 Février 1915 50 Centimes Le Trésorier Les Vice-Présidents SÉRIE II Échangeable contre des Billets de la Banque de France |
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| Protection type | Watermark |
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| Comments |
The Chambres de Commerce emergency notes issued across France from 1914 onward filled a vacuum created almost overnight when small-denomination coinage vanished from circulation — hoarded by civilians and drained by wartime metal demands. Tarbes, a modest administrative centre in the Hautes-Pyrénées, was among dozens of regional chambers authorized to issue their own fractional currency under a framework that traded on institutional trust rather than central bank backing.
L. Cassan Ainé, a Toulouse printing house, handled much of the regional emergency issue work across the southwest. The watermark security was a minimum concession to counterfeiting risk; these notes were never intended to circulate beyond local markets.