5 Shillings / 6 Francs

Guernsey's decision to issue its own emergency paper currency in 1914 was a direct response to the financial panic that swept Britain and the Channel Islands in the first weeks of the war. Gold and silver disappeared from circulation almost overnight as hoarding took hold, and the States of Guernsey moved quickly to fill the void — printing these notes locally rather than waiting on London.

The dual denomination is the telling detail: five shillings sterling and six French francs simultaneously, reflecting Guernsey's practical reality as an island with genuine cross-Channel commercial ties. French francs circulated alongside sterling well into the twentieth century in normal trade.

Marquand served as HM Receiver-General; Bishop was the States Treasurer. Two signatories from distinct offices was an accountability measure, not ceremony.