[New York] The Canal Ring referred to the group of corrupt contractors and their political supporters who conspired shortly after the American Civil War to defraud the State of New York by overcharging for repairs and improvement of the state`s canal system. It defied an `investigation` in 1868 and for years was powerful enough to prevent i...
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http://en.wikipedia.org/wiki/Canal_Ring_(New_York)

A canal ring is the name given to a series of canals that make a complete loop. ==Origin of the term== While there have been canals which formed a ring for centuries, the `ring` terminology was unknown before the 1960s, when it was coined by the Inland Waterways Association as part of its campaign to save the Ashton Canal and Peak Forest Canal f.....
Found on
http://en.wikipedia.org/wiki/Canal_ring
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