TDFW has no connection with Child 278. Although there are probably traditional antecedants, the song was first popularised by Bert Lloyd in the mid 1970s. I do know that a number of revival singers picked it up from him.

While it's a good song, and one I sing myself, I'm suspicious of its authenticity. That's partly because Bert is now known to have faked a number of the songs which he 'recirculated'. Eg., The Recruited Collier, Reynardine, Gathering Rushes. More particularly though, the story is well known in Continental Europe as a folktale, and I have seen one printed version (I think in the Routledege Folktales of the World series), and been struck by a strong similarity between that particular text and Bert's song.

If I can remember which volume it was in, I'll dig it out and re-read it.