This song (in its many versions) seems a prime example of a burlesque entering the tradition as a supposedly serious story. But even if most of the story is somewhat plausible, the usual ending where the girl (a) demands pistols, which are immediately provided, and then (b) is rewarded for murdering William is not at all plausible. Did singers really take it seriously? Or is it extreme suspension of disbelief: I'll ignore how absurd this is if you will?

Can someone point us to the original serious version? What happens at the end of that?