Reads a bit easier like this, I think. It swings along well enough.

We are the fishermen,
We are the men
Who sailed up the Creek
With our Royal King Jim.

An Arnold and a Jemmett,
And a lot more in it,
Sailing up the Creek
With our Royal King James.

You had to call
A Gregory and a Dane
To make things plain
For the reception ceremonial
To our Royal King James.

After morning prayers
We went to the Mayor's
At the foot of the stairs
To bid adieu
To our Royal King James.

Our Merry Fishermen,
Bold and brave,
Saved King James
From a watery grave.

Our wives and daughters,
With many strong waters,
Drank to the health
Of our Royal King James

Loud cheers for the strong waters,
Our wives and daughters,
Who drank to the health
Of our Royal King James.

No matter who may prate,
Or who may preach,
We rule the waves
To Nagden Beach.

On a full spring tide,
Broad and wide,
We sailed up the Creek
With our Royal King James.

A Coleman and a Moon,
On the Kitty Scoon2
Stood by the main boom,
Piloting up the Fleet
With our Royal King James.

We were four and twenty pairs
Who marched to the Mayor's
As the King's Bodyguard
To our Royal King James.