Waterford was the eastern gateway to the New York State canal system. Dutch fur traders settled here in the 1630s, where Mohican families once forded the Mohawk River below the Cohoes Falls. By the late 1700s, sea captains brought their sloops up the Hudson River to trade at this flourishing port. The completion of the Champlain Canal in 1823 linked Waterford merchants with Lake Champlain and Canadian commerce. By 1825 canal boats were able to travel westward along the Erie Canal, the Great Lakes and the interior of America. The historic village center, only a few blocks from the waterfront, reflected the wealth that river and canal trade brought to this area. Many local industries were canal-related, such as boat-building and barrel-making, but local workers also produced shirts, collars, long underwear, stoves and Button Fire Engines.