Here is a version I got off a tape by Woods Tea Co., put out back in the early '80. I have seen fuller versions and ones that refer to the Mexican War and give the title meaning. This is about a 2 1/2-minute version for popular consumption.
We're sailing cross the River from Liverpool
Weigh hey Santy Anno
Sailing round Cape Horn to the Frisco Bay
Way out in Cal-i-forn-i-o
Chorus
So heave her up and away we'll go
Weigh hey Santy Anno
Heave her up and away we'll go
Way out in Cal-i-forn-i-o
Back in the days of the 49
Weigh hey...
Back in the days of the good old time
Way out...
There's plenty of gold so I've been told
Weigh hey...
Plenty of gold so I've been told
Way out...
She's a fast clipper ship and a wholly good crew
Weigh hey...
A down east Yankee for a captain too
Way out....