Is it this one?

Who Pays the Piper

Lyrics here:
Who Pays the Piper

WHO PAYS THE PIPER
    (Nancy Nicholson)

    Chorus:
    Who pays the piper, who pays the piper
    Who pays the piper, who calls the tune
    Who pays the piper, what is the fee
    Flames on the water, death on the sea

    And the tune is old and has always told
    How the great brave and bold they do flourish
    How bravely they gamble with other men's lives
    And profit as other men perish

    And the tune rings out and is always found
    When the ground receives yet another
    Father of dazed and despairing young bairns
    Or son of a desolate mother

    And the price is dear for the folk who fear
    And who bear the burden of sorrow
    For those who were lost when the graph of the cost
    Crossed the graph of rich pickings tomorrow

    ( as sung by The McCalmans)