I've found some verses by Elton Britt, some from Slim Dusty and some from my Dusty Memory. This may not be the complete song but it will do for now.

Just Beacause You're in Deep Elem

Just because you're in deep elem,
Don't think you're to wise for me.
You know I knew you when
You just had dollar one to spend.
So don't try and deep elem me.

Just because you're in deep elem,
Don't think you're too wise for me.
You were shining shoes I know.
When I was rolling in the dough.
So don't try to deep elem me.

Just because you're in deep elem,
Don't think you're too wise for me.
I remember when
you were eating now and then
So don't try and deep elem me.

Just because you're in deep elem,
Don't think you're too wise for me.
Don't forget there was a time
I could buy you for a dime.
So don't try and deep elem me.