The Rolling Sailor:

There's an absolutely gorgeous version of this song on the Rogue's Gallery cd (a collection of prirate ballads, sea songs and chanteys). The lyrics are slightly different--for example, the chorus is "Oh, my little rolling sailor, oh, my little rolling sea/ how I love my rolling sailor when he's on the rolling sea and it's not "every wife her son" but "she won't have to sleep alone"--but it's the same song.
The verse about soldiers and sailors is a well-known prostitute's ditty of the time. The thing about this song is that the perspective of the different verses varies between wife/sweetheart and whore.

Also, I believe that in all the versions it's not "everybody sailor laddie" but "every bonny sailor laddie". It's easy to hear that if you're just typing the lyrics by ear.

Mr. Noble is right about the soldiers having no money. Soldier's pay was pretty much nothing.

Reiver 2: Kiss my ass in Gaelic is "Póg mo thóin"