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50 Centimes - Chambre de Commerce de Toulouse 31

Issuer Chambre de Commerce de Toulouse
Year 1914
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Currency Franc (1795-1959)
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Obverse description Printed in blue on an orange-tinted ground with a repeated text watermark underprint, the obverse is framed by a fine guilloche border with decorative corner ornaments. To the left, a detailed letterpress vignette of a historic sailing galleon at anchor serves as the principal design element, with a small heraldic device and a series number tablet affixed to the hull. The denomination '50 Centimes' is set in bold type at centre, flanked by the titles 'Le Trésorier' and 'Le Président' above two manuscript signatures, with a serial number printed below.
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Protection type Watermark
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Comments

Emergency local currency issued at the outbreak of the First World War, when the sudden mobilization of August 1914 triggered an immediate hoarding crisis across France. Small coin vanished from circulation almost overnight, and chambers of commerce throughout the country were authorized to fill the gap with small-denomination paper. Toulouse's chamber was among the earliest to respond.

Berdoulat was a Toulouse-based printer — not a specialist security printer — which likely explains the relatively modest production quality. The JP# 122 reference covers at least five distinct varieties within this single issue, distinguished by serial numbering ranges and minor typographic differences.

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