I think I recall it has to do with "displacement".
Lord Brunel- built the first iron/steel ship, the "Great Eastern", ca 1854, "Displacement", maybe 200 Tons of Steel and Iron.
I recall skimming through something, the trick has to do with this- the weight of the building material has to be distributed in such a manner over the total area of the vessel BELOW THE WATER LINE (including the sides of the vessel below the waterline). This value needs to be less than the expression value of the displaced water. I think the ratios are supposed to be stated terms of hull pressure in "two dimensional density" OR "PSI"- pressure (ponds)per square inch. I think using Volume (cubic inches) can result in lots of errors.
The way you get out of using "3 dimensional" arithmetic in this case, is you look up a Table of weights for materials, I forget the value for water, but its alot, the value for concrete is somethng like 2800 pounds/cubic foot. However, for the purpose of a canoe, you convert to "PSI".
For example, if your canoe had a hull 3/16" thick, you would do a conversion factor to figure out the weight of a hull area of 9 square feet x 3/16" thick, etc.
Bob D.