A little update, although not directly about the song itself. It seems it was fairly popular being included in a number of large collections in the late 19th centuryincluding "Harmonized Melodies" by Ferdinand Trifet pub Charles D Blake 1893.

Apparently, according to The Encyclopedia of Numismatic Biographies,by John Lupia (http://www.numismaticmall.com/numismaticmall-com/trifet-ferdinand-marie) Trifet originally dealt in the printing of stamps in the Boston area. He says "In 1879 publishing music was added to the stamp business, with the object of furnishing music to the masses of the people in large quantities at small profits. That success attended this undertaking is shown by the fact that Trifet Editions of music and music books were not figured by hundreds or thousands, but by hundreds of thousands and millions; one book alone, Harmonized Melodies, had, in 1899, consumed two hundred and seventy-five tons of paper."

The song also appears in "Grand Musical Library" 1891, Music for the Millions" 1889, as advertised in Ladies Home Journal, The Rural New Yorker, Youth's Companion, Demorest's Family Magazine also in Australia (Traralgon Record, Victoria Tues April 30 1901 page 1 "Put into Rhyme")

But virtually nothing about the song and it's maker, who we must assume was Scottish, given the lyrics. Anyone over there know anything?