Here's my transcription of the sound sample that Malcolm Douglas provided a link to:

Six times the flag was shot away and the chain shot through like hail.
The mast top fell to the deck and the fleet began to fail.
Jack Crawford he picked up the flag, and nimble to the last,
He climbed atop the main and nailed the colors to the mast,
Nailed the colors to the mast, nailed the colors to the mast,
He climbed atop the main and nailed the colors to the mast.

Oh, what a cheer was heard that day as the English tars fought back!
The Dutch were torn asunder and the cry went up for Jack.
Admiral Duncan he stepped up to him sayin', "We've won the day at last,
For Jack Crawford, you're the hero who nailed the colors to the mast,
Nailed the colors to the mast, nailed the colors to the mast,
Jack Crawford, you're the hero who nailed the colors to the mast."