The whole structure was completed in the autumn of 1802, and the canal was formally opened on Friday, Sept. 17th of that year. The occasion was observed as a general holiday by the towns-folk. At one o’clock the boats the Betsy of Horncastle, and the Martha of Dalderby, the property of Messrs. Gilliat & Wilson, and the British Queen, owned by Mr. Boyers, were hauled into the two basins of the canal, elaborately decorated with colours, amid the cheers of spectators, who are said to have numbered more than 2,000. The vessels having been brought to, several salutes were fired, and a band of music, on the pleasure boat of Mr. Lane, played “God save the King,” “Rule Britannia,” “Hearts of Oak,” &c. Having traversed some distance on the canal the company afterwards landed at the wharfs on the two branches, and a large number of the shareholders partook of a festive repast at the Greyhound Inn, East Street, near the south basin. The navvies and other workmen who had been employed in the construction of the canal, were also regaled on the boats, and afterwards feasted at the Greyhound. In following years an excursion was made annually by the Directors, conveyed down the canal, in a fine barge, which was their own property, named “The Lady Banks,” in order to inspect its condition; and this was followed by a public dinner at the Bull Hotel, which continued to be an established institution during the period of the canal’s prosperity. The shares quickly rose considerably in value; a great number of barges came to the town, and it was no uncommon occurrence to see the whole distance from the South bridge to the Bow bridge packed closely with heavily laden vessels, carrying coals, grain, or other merchandise. In 1836 it was computed that about 30,000 quarters of wheat, and 3,000 packs of wool, passed through the canal annually; and in 1850 the profits of the traffic amounted to about £2,000 a year. Consequent on the opening of the railway in August, 1855, the canal, as a means of goods conveyance, gradually became disused, until, of late years, it has become worse than a mere derelict, since it forms an obstruction to the free passage of the water brought down by the two rivers, and after heavy rain it has led to temporary inundations of the town, to the great inconvenience of those residing near it, as well as interfering, as might in some circumstances be serious, with the sanitary arrangements. A few years ago an attempt was made to restore the canal traffic, but the railway monopoly had become too thoroughly established, and the project failed; yet the competition, could it have been maintained, might have had a salutary effect upon the cost of railway conveyance, to the advantage of the general public.