Here is what it means:

They say that we're waiting for the cholera
The thing is positive
We don't know when it will arrive
But we know it's coming.

Here's the cholera! Here's the cholera!
Here comes the cholera!
From one bank to the other
Everyone will die of it!
Here's the cholera! Here's the cholera!
Here comes the cholera!
From one bank to the other
Everyone will die of it!

2. Pharmacists keep on repeating:
It's coming! ... the thing is certain;
Buy us some disinfectant ...
Sulfate, chloride.

3. The sacristans and abbots
Repeat hymns
To attract corpses
In their sacred* shops.

4. We raise capital
To make caskets
We sell coffins, wholesale
At the door of the cemeteries.

5. Every morning, before noon,
In a huge pit,
We will bring the iced ones
That we will stack by the gross.

6. God, from the top of the Sacred Heart,
Sing with all his clique,
And the pharisees sing along in chorus:
Let the Republic croak!!

*pun: "sacré" means "sacred" but also "damned"