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Canal companies were initially chartered by individual states in the United States. These early canals were constructed, owned, and operated by private joint-stock companies. Three were completed when the War of 1812 broke out; these were the Santee Canal (opened 1800) in South Carolina, the Middlesex Canal (opened 1802) in Massachusetts and the Dismal Swamp Canal (opened 1805) in Virginia. The Erie Canal (opened 1825) was chartered and owned by the state of New York and financed by bonds bought by private investors.