Loretta
No, I wouldn't trust a waterbath canner with the bean with bacon soup recipe, because of the meat, which (as I understand it) requires higher temperature to be successfully canned. Waterbath canning is generally saved for acidic foods--jams, jellies, tomatoes, and some relishes/salsas. I'm hardly an expert, though, so maybe someone else here or on a canning web site can offer us both some guidance.
Judy Lee