Fender's recording for Carpenter is a little different:


I thought I heard our old man say,
        Lowlands! Lowla-ands, away, my John!
I thought I heard our old man say,
        One dollar and a half a day.

A dollar a day is a poor man's pay,
        Lowlands! Lowla-ands, away, my John!
A dollar a day is a poor man's pay,
        My dollar and a half a day.

So shake her up from down below,
        Lowlands! Lowla-ands, away, my John!
So shake her up from down below,
        One dollar and a half a day.


Virtually all the shantymen on the Folktrax discs sang the solo line in each stanza twice.

The rest of Dr Price's transcription may be correct, but I'd double-check the phrase "yellow guy."