Here's the Jean Ritchie version:
-Joe Offer-

ONE I LOVE
by Jean Ritchie
© Copyright 1964, 1971, Geordie Music Publishing

All of my friends fell out with me
Because I kept your company.
But let them say whatever they will.
I love my love with a free good will.
One, I love. Two, he loves. Three, he's true to me.

They tell me he's poor, they tell me he's young.
I tell them all to hold their tongue,
If they could part the sand and the sea
Then they might part my love and me.
One, I love. Two, he loves. Three, he's true to me.

For when the fire to ice will turn,
And when the icy sea will burn
And when those rocks will melt in the sun
My love for you has just begun.
One, I love. Two, he loves. Three, he's true to me.

Over the mountains he must go
Because his fortune is so low.
With an aching heart and a troubled mind
For leaving his love so far behind.
One, I love. Two, he loves. Three, he's true to me.

It's when I am awake I'll find no rest
Until your head lies on my breast,
And when I'm asleep I'm dreaming of
My one, my dear, my absent love.
One, I love. Two, he loves. Three, he's true to me.

Source: Celebration of Life: her songs..her poems, by Jean Ritchie, 1971