"The Raging Canal" appeared in 1844. The author is given as "P.Morris."

From Dichter & Shapiro, Handbook of Early American Sheet Music 1768 - 1889:

"Raging Canal!The   C.G.Christman, New York, 1844

"A Comic Song. Written and Sung by that Most Celebrated Comic Singer P.Morris, And dedicated to his friends in his native city, New York.
Pr. 25 cts. nett. Lith. Fleetwood.[n.art.] 6 pp., pp. 2 and 6 blank, p.4 is incorrectly numbered 3.

"Illustration: Humorous drawing of a two-masted ship being tossed by mountain high waves on the Erie Canal, of all places."

I imagine you can find it in other 19th century indexes as well.

I first encountered the song in Prof. Lionel Wyld's book,
Low Bridge! Folklore and the Erie Canal (Syracuse Univ. press 1962).
Wyld includes a facsimile of the sheet music cover in the book and (if I recall) gives as his source for it the Buffalo and Erie County Historical Society in Buffalo, NY. Apologies. I've mislaid my copy of the book. But I'm pretty sure that's the source.

I've recited "The Aged Pilot'Man"for years, and use the "Raging Canal" tune for the broadside "The Girl from Yewdall's Mill" (cf. my CD 'Oh! That Low Bridge!').

"The Raging Canal" lyric doesn't bear much resemblance to ""The Aged Pilot-Man". MT only says he based the poem on it,after all.

Hope this helps,   -George