And, keen to give his children an education ¹
He makes the shuttle fly

But if they were paid by the yard ²
They wouldn't laugh so loud.

¹ "Lair" has several meanings, and might also mean "a place to lay their heads" in this context.

² An "ell" was actually just over a yard, at 37.0578 inches ("Scotch ell") or 38.416 inches ("plaiden ell"). A "keel" is "a mark on the warp showing the weaver where to cut his cloth".

"Rins" is pronounced pretty much as spelled.

There is a final verse which Masato has missed:

Then cheer your hearts, ye workin' men,
An' a' like brithers be;
Rouse up against restrictive laws,
And set industry free.