In a large bowl, combine the beans with the water, cover and let soak overnight.
In a large pot over medium high heat, combine the soaked beans with water, carrots, onion and ham. Add more water to cover all, if necessary. Bring to a boil, then reduce heat to low and let simmer for 4 to 6 hours. Add ketchup just to get desired color. Season with salt and pepper to taste.