The 1950S version was a revival of a bawdy bar-room ballad much favoured by drunken honkey- tonkers in the late 1800S and is traceable back to the notorious Debauched days of Klondike excesses up and down the Yukon river. The lyrics have been interpreted by various folklorists and surrealists as being highly suggestive sexual symbolisim as was common practice for many lyricists of the day IE the use of innocuous words to convey a statement or message of esoteric nature. Other examples are -I took out me fiddle to play me love a tune-----she stopped for to rosin my bow---ball of yarn etc etc and all the napoleonic songs in which he was never referred to by name but as--- the green linnet----boney etc--- . Any one ever hear of that spin?
[edited for readibility---joeclone]