Came across this thread through a google search looking for an explanation of th counting chorus, which I'd only heard on a collection of Donal Lunny's stuff, as opposed to the "whack to yer toodle loodle laddy" chorus most often used in ireland.

The money counting thing I find confusing - the counting down seems unusual with this meaning, as does the "none" at the end.

The Puddle Swaddy/Poor little squaddie thing might work, given the presence of the Provost Marshall in the next verse.

Anyway, the reason I though I'd chip in was the Spanish/Galway City connection. The Armada wrecked on the Galway coast after being blown off course on it's way to England. Many Spaniards are reputed to have come ashore, and this has been used traditionally to explain the often black haired/black eyed Galweigians. It's often said (and comes up in Angella's Ashes, I think) that dark people in Ireland have "the look of the Spaniard about them".

So, she's undoubtedly a lady of the night, and her "Spanish" nature captures both her looks and her West of Connaught origin.