I don't recall any of the specific words, but the gist of the song was this Irish fellow during the famine wore leather britches all the time. At one point he was supposed to get everyone something to eat. Not being able to find anything, he took his pants off and made a soup from them, and served that. During/after eating, when everyone realized that he wasn't wearing his leather britches, and surmising what had happened to them, they were ready to lynch him.