I'm more excited by the reference to the line "Rich man rides by in his carriage and pair" which I'm familar with from the chorus of the obscure Music Hall song "The Pearl Diver" which I started a thread on some time ago. We found not a trace of the song via Mudcat but it would make sense that a remnant would turn up in Australia. My family learned "The Pearl Diver" from world sailor Dennis Puleston of Brookhaven, Long Island, NY. The full chorus runs:

G7------C
And the rich man drives by
------F
In his car-ri-age and pair,
G
Little does he care,
C
Little does he care,
-----------F----------F7
Though the diver cries "Help!"
---C------E7—A7
He heedeth him not
----D7
But tells his man in livery
-------G----G7
"Drive on at a trot!"

Brian, are you sure your fragment is associated with the balloon seller's song?

Cheerily,
Charley Noble