 However, it is most famous as a racing sailboat, and races continue to be held.The history of the log canoe is closely tied to the development of the oystering industry on the bay.In pre-power days, the log canoe was an inexpensive craft which could be assembled without recourse to shipbuilders; before the dredge was made legal in 1865, the log canoe was sufficient to the needs of oyster tongers.