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This 50-centime note was issued by the Chamber of Commerce of Tulle, in the Corrèze department, France, in 1915. It belongs to series A and represents a form of local currency issued during a period of crisis or economic necessity during the First World War.
The obverse of the note bears the inscriptions "CHAMBRE DE COMMERCE DE TULLE (Corrèze)" in capital letters, indicating the issuing institution. The face value, "50 CENTIMES", is also clearly visible. There are also the mentions "Le Président" and "Le Trésorier", followed by the mention "Septième émission", suggesting that this is one of the many issues of emergency banknotes by this chamber of commerce.
The reverse of the note specifies the exchange conditions. It reads: "Ce billet, toujours échangeable... avant le 25 Mars 1920", which sets a deadline for its use. The mention "La contre-valeur de ce billet est déposée au Trésor" reassures holders as to its value. The name of the printer, "IMP. P. DUMONT. LIMOGES", also appears at the bottom of the note, identifying Imprimerie Pierre Dumont of Limoges as responsible for its production.
The banknote's watermark features bees, a symbolic motif that could evoke work, industry and prosperity. All of these elements offer insight into the alternative monetary practices put in place during a period of economic turmoil and highlight the role of local institutions in managing finances and trade.