The 'Venice of the East' nickname in fact predate Besso's scribblings by hundreds of years. However, though it is unclear when exactly the phrase was born, it is clear that no tourist guide since (book, person or website) has been able to resist this captivating cliche. Like Burma's 'Mandalay', it evokes the romance of the Orient, only Bangkok-style: of languid sampans drifting down tree-lined canals, of stoic locals living next to them in floating wooden shophouses, of city life before the advent of tuk-tuks and traffic jams.
But does the Venice of the East still exist? Yes and no. Many canals were drained or filled because of the risk of cholera they posed, or to make way for badly needed roads. Unlike the city's Chao Phraya River, little or no trade passes along those that remain. However it's not a tale of total stagnation. In places remaining khlongs are, though pungent, still picturesque. Old bridges survive, crooked houses still crowd the waters edge. For a few measly baht you can whiz past them, engulfed in noise and heat and fumes, rancid water flying toward you as the boat surges forwards (for speed and sheer exhilaration they put Venice's gondolas to shame!). Or take a gentle stroll along canal paths, peeking with every few steps into a new home, stepping as you go over shoes or passed elderly ladies watering potted plants.
http://www.bangkok.com/attraction-waterway/khlongs.htm