Officially opening on August 4, 1840, the Pennsylvania and Ohio Canal followed the route of present railroad tracks through Munroe Falls approximately one thousand feet south of this marker. This 82-mile long "feeder canal" connected the Beaver Valley canal system at New Castle, Pennsylvania with the Ohio and Erie Canal in Akron, thereby linking Pittsburgh with Cleveland and the western Great Lakes. Many communities along the canal's path became linked to national and world commerce through their establishment as canal ports.

New England investor Edmund Munroe purchased property and water rights along the canal's proposed route, and in 1837 established the Munroe Falls Manufacturing Company. The village of Munroe Falls incorporated on October 26, 1838. When this section of the canal closed in 1869, the waterway through Monroe Falls was filled and railroad tracks were laid over its path. A portion of the canal bed is still visible east of State Route 91.

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