This is a bit longer than other versions I've seen. I found it here (click). I didn't find the song in any printed sources.
-Joe Offer-

Lying in the Gutter

I was lying in the gutter, all guzzled up with beer,
Pretzels in my whiskers, I knew the end was near,
But a bowl of beans and Jesus' tears they saved me from the hearse
Glory, Glory hallelujah sing the second verse,

Chorus:

Hallelu, Hallelu, put a nickel on the drum,
Save another drunken bum.
Hallelu, Hallelu, put a nickel on the drum,
And you'll be saved

Once when I was young, I was the village belle,
But the way I carried on, I was headed straight for Hell.
I rode my tandem bicycle with my ankles in full view,
But now that I have seen the light, I'm a maiden wrought anew.

Chorus

I was purveyor of fine liquors by appointment of King George,
I posed for Calvert – glass in hand – distinction made me large.
But I took a sip while posing – my descent was swift and hard,
Now I am a common laborer in the vineyards of the Lord.

Oh it's G L O R Y to be S A V E D,
G L O R Y to be F R double E,
F R double E from bonds of S I N,
Glory, Glory Hallelujah Jesus Christ Ah men.

Chorus

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And here's one posted in another thread by Downeast Bob:

Thread #24205   Message #274602
Posted By: Downeast Bob
09-Aug-00 - 06:14 PM
Thread Name: Wanted: Songs for alcoholics!
Subject: Lyr Add: Layin' in the Gutter(?)^^

Dunno if I can make the lines break properly, but here goes:

Layin' in the gutter, pretzels in my beard;
Shirt all stained with whisky;
I thought the end was near;
'Til the Salvation Army comes;
And Saves me from the hearse;
Let's all bust a gut now and sing another verse:

Chorus:

Hallelujah! Hallelujah!
Throw a nickel on the drum, save another drunken bum.
Hallelujah! Hallelujah!
Throw a nickel on the drum, and you'll be saved.

Way up in heaven where there is no snow;
And all year round, the watermelons grow;
Where the rich man, the poor man, the gentile and the Jew;
All sit together in the same damn pew.
Oh there'll be no distinctions there.
There'll be no distinctions there.
The Lord is good the Lord is just;
The Lord is head of the railroad trust.
There'll be no distinctions there.

Chorus

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This is pure speculation, but my guess it that this is a parody of one or several gospel songs, one with a chorus that starts "Hallelujah, hallelujah." We're familiar with S-A-V-E-D, but I think "Salvation Army" is a different song that took verses from "S-A-V-E-D" in some versions.
-Joe Offer-