Between 1914 and 1927, a substantial quantity of emergency money was issued in France and its North African colonies as a response to the economic crisis triggered by World War I. Various entities, including companies and local chambers of commerce, were authorized to issue such emergency currency. 

At the onset of the First World War in 1914, France ceased using gold coins as well as the conversion of banknotes into gold. In response to the rising inflation and with people hoarding French coins for their precious metal value, causing difficulties for merchants in conducting small transactions, the Chamber of Commerce of Paris sought permission to issue small bearer bonds. These were in denominations of 0.25, 0.50, 1, and 2 francs, which would serve as legal tender among accepting Parisian merchants. The Chamber of Commerce backed these bonds by depositing an equivalent amount of cash with the Banque de France. 

Following the implementation of bearer bonds by the Chamber of Commerce in Paris, similar measures were adopted by Chambers of Commerce in various cities across France. They introduced their own bearer bonds to facilitate local transactions.

This system persisted for approximately five years, during which its limitations became evident. Paper money proved inadequate for frequent handling, particularly in the case of small denominations, and the bonds were being used beyond the intended local scope of each Chamber of Commerce. In 1921, a decision was made to replace the paper bearer bonds with bronzed plated aluminum "Jetons" available in denominations. These Jetons were intended for nationwide use and were a more durable alternative.

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