History buffs celebrated the 200th anniversary of Croydon’s canal, which became a financial disaster.

In 1799 it was decided Croydon needed a canal to link the growing town to London.

The waterway was authorised by an Act of Parliament in 1801, but it took two further Acts in 1808 and 1811 to raise the funds to complete the work.

Even so, the canal was a financial failure and it closed after 27 years, when the £100 shares decreased in value until they were worth just two shillings in 1830.

The picturesque 15km (9 miles) waterway consisted of 28 locks and ran between the Grand Surrey Canal, near New Cross Gate, to where West Croydon station now stands.

Barges carried up to 30 tonnes of timber, coal, building materials, food and other supplies between London and Croydon.

According to Paul Sowan, from Croydon Natural Historic and Scientific Society (CNHSS), the canal was built in the wrong place and at the wrong altitude for the developing industrial district in the Old Town.

It also did not have enough water to function properly.

According to Mr Sowan, its highest point was the basin at West Croydon, so every time a boat passed through one of the 28 locks, water drained into the Thames.

By the 1830s the owners realised railways were an opportunity not to be missed, and they sold the canal for £40,250 to the London and Croydon Railway company.

Today, the train from London Bridge to West Croydon follows the old canal.

Although it was not used for transport after it was sold, the canal was still enjoyed by residents – popular venue was the Anerley Pleasure Gardens which opened in 1841 – but the popularity of Crystal Palace eclipsed the gardens.

Today little evidence of the canal is left, although CNHSS members organised a walk along its route to remember the historic waterway.