I remember this song or a similar one from the "Twice 55 Song Book," used at my public school around 1955. I think it's a I/V7 chord progression with a marching tempo, relying on tonic for most of the piece except for the last line, which goes to the V7 chord the fifth tone of the key going down the scale: V, IV, III, II, I. Then repeat. I haven't tried it yet, but that how I remember it. Does any one remember the "Twice 55 Song Book?"