In an earlier post, it is stated that Scarborough believed that the song is of British origin because of the term freehold. The term is used in United States law as well. In brief, freehold is defined as "a tenure of real property by which an inheritance in fee simple or fee tail of an estate for life is held." Webster's Collegiate Dictionary. Greek? Yep. And not quite correct, either.
The "'Lectric Law Library" has a simpler definition: "an interest in land which permits the owner to enjoy possession of real estate during his life without interference from others."
The citizens of Freehold, New Jersey, would be surprised that their area was not a product of freehold.
There is still no evidence that the song has British origins (or that it is exclusively American either).
See: freehold The definition here goes on to give a simple example.