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1. Chop shucked clams, reserving juice; set aside. Strain clam juice to remove bits of shell. (Or, drain canned clams, reserving juice.) If necessary, add water to reserved juice to equal 1-1/2 cups. Set aside.
2. In a large saucepan cook bacon until crisp. Remove bacon, reserving 2 tablespoons drippings. Drain bacon on paper towels; crumble. Set bacon aside.
3. Cook onion, celery, green pepper, red sweet pepper, carrots, and shallots in reserved bacon drippings until tender. Stir in reserved clam juice, undrained tomatoes, potatoes, chicken broth, basil, ground red pepper, and ground black pepper. Bring to boiling; reduce heat. Cover and simmer for 20 to 25 minutes or until vegetables are tender.
4. Stir in clams. Return to boiling; reduce heat. Cook for 1 to 2 minutes more. Sprinkle each serving with cooked bacon and parsley. Makes 4 main-dish or 6 to 8 side-dish servings.