In a big saucepan, brown the sausage and bacon until bacon is crispy. Remove sausage and bacon with a slotted spoon, and drain on a paper towel. Discard most of the fat; leave enough to cook the onion. Saute onion in reserved fat until tender, about 5 minutes.
Gradually stir in the flour. Add stock and water, stirring constantly. Add sausage, bacon, corn, potatoes and white pepper. Add red pepper sauce to taste. Heat to boiling. Reduce heat and simmer, covered, for 15 to 20 minutes. Stir occasionally.
Add milk and cook until soup is heated through and potatoes are tender. Top with butter and serve.
NOTES: A rich creamy chowder with corn and sausages -- This chowder is a variation on a family recipe from an old roommate of mine. (She makes it without the sausage, and with more water). It goes very well with most seafood. I am especially fond of it served with crab cakes. Serves 6-8.