I've recently been reading a book entitled "Tavern Singing in Victorian London - the Diaries of Charles Rice for 1840 and 1850". (Edited by Laurence Senelick, published by The Society for Theatre Research, 1997 - ISBN 0 854 30 0597)

Charles Rice was a messenger at the British Museum in London from 1837 to 1876. He added to his income by singing comic songs in the taverns around Soho, for a few shillings a night plus drinks. His diaries give an insight into this life, including the other singers and acts he shared the boards with, and the songs they sang, some of which we would recognise as variants of 'folk songs', or at least broadside ballads. At the back, he gives his words for a few of his songs, one of which is 'Billy Taylor', obviously derived from the broadside quoted above:

"Billy Taylor"
Author Unknown. Air "George Barnwell."

1
Billy Taylor was a gay young fellow, werry full of mirth & werry full of glee;
And his mind he did disciver to a damsel fair and free!

2
Four & twenty gay young fellows, all dress'd out in fine array;
Went & press'd poor Billy Taylor, what they sent away to sea!

3
Soon his true love follow'd arter, under the name of Richard Carr;
And her lilywhite hands she bedaub'd all over, with that nasty pitch & tar.

4
Now, behold the werry first Engagement, boldly she fit in amongst the rest;
Till a gale of wind blow'd open her waistcoat, & discivered, vy all her lilly-white breast!

5
When that the Captain he came for to hear on't, says he vhat vind has blown you here;
Says she I've come for to seek my true love, vhat you press'd & I love so dear!

6
If you've come for to seek your true love, tell unto me his name I pray;
Says she his name is Billy Taylor what you send so far away!

7
If that his name its Billy Taylor, he's werry cruel & severe;
And if you rise up in the morning early, you'll find him along with his Lady gay!

8
Then she got up, in the morning early, quite early by the break of day;
And there she spi'ed bold Billy Taylor, & he vos valking along with his Lady gay!

9
Then she call'd out for swords & pistols, vhich vas brought at her command;
And there she shot poor Billy Taylor with his sweetheart in his arms!

10
When that the Captain he came for to hear it, he werry much applauded her for what she had done;
And he made her his first Lieutenant, on board of his ship the Thunderbun!

"Correct as sung by me, August 1841 Chas: Rice"

According to the introduction, "the transposition of v and w was uncommon in London speech except in comic songs at the 'free and easies,' where it was accepted as the hall-mark of humour."

Andrew