Add the bacon to a Dutch oven or large pot and cook over medium heat, stirring occasionally, until crisp, 5 to 7 minutes. Using a slotted spoon, remove the bacon to a plate lined with paper towels and reserve the bacon drippings in the pan.

Add the butter to the bacon drippings, then the onion and celery. Cook, stirring occasionally, until slight softened, about 4 minutes. Add the garlic and cook 1 more minute. Sprinkle the flour over the vegetables; cook, stirring constantly, 2 minutes. Gradually stir in the clam juice and milk; whisk until smooth. Return to a simmer, stirring frequently, being sure to scrape the bottom and corners of the pan so that the flour doesn't stick.

Add the potatoes, bay leaf, salt, and pepper and return to a simmer, stirring frequently. Once simmering, reduce the heat to medium-low. Cover partially, and cook, stirring occasionally, until the potatoes are slightly softened, about 15 minutes.

Add the clams and the juices from their cans. Return to a simmer and cook, partially covered, until slightly thickened, about 10 minutes. Add the cream and heat just until warmed through. Remove from the heat. Remove the bay leaf.

To serve, top with the reserved cooked bacon and fresh parsley or chives. Serve with oyster crackers.