The Miami Exporting Company was the first bank chartered in Ohio by the state legislature. It was located in Cincinnati and received its charter in 1803. There was a lack of paper money in the state and many people wanted to see more currency in circulation. The State of Ohio attempted to solve this problem by authorizing banks to print paper money. By 1815, the state legislature had also chartered banks in Dayton, Steubenville, Zanesville, Chillicothe, and Marietta.