A rather more complete, and much ruder, version is already in the DT The Bastard King of England, and an earlier thread from 1999 discussing the song and its history can be found above.

If Kipling was the author it must have been on one of his off days; the scansion is too poor and the rhythm too plodding to match his better verse. He was awarded the Nobel Prize for Literature in 1907, and would have looked down on any "lesser" honours such as the Laureateship or the Order of Merit, or a mere knighthood! He was a close friend of King George V, and the pallbearers at his funeral included a Prime Minister, a General, an Admiral and a Master of a Cambridge College. Any worldly honours seem superfluous in those circumstances.

The 1936 'Time' magazine article cited above by Q seems very odd in that the quotation attributed to the then Poet Laureate "John Maseneld" [sic] suggests he didn't know Kipling's recent poetry.

Matthew Edwards