the canal ring was a group of corrupt contractors and their political supporters in the 1860s and 1870s who defrauded the state of new york by overcharging for repairs and improvement of the state's canal system. it consisted largely of a group of loosely organized democratic and republican assemblymen and state senators, led by jarvis lord in the assembly and william johnson in the senate. the firm belden & denison made the most money from the scam, though numerous contractors were involved.