1. Cook bacon until crisp in a large, heavy saucepan or Dutch oven. Add onion, saute until soft.
2. Add potatoes, 2 cups of the water, salt and pepper; cover. Simmer 15 minutes, or until potatoes are tender. Remove mixture from heat.
3. Stir in corn with can liquid and evaporated milk. Blend flour with remaining 1/2 cup water; stir into chowder.
4. Cook, stirring constantly, over medium heat until chowder thickens and bubbles 3 minutes. Ladle into soup bowls. Sprinkle each with paprika.