Actually, if you do a little research on the cat. there is an earlier entry from Bob Bolton - dated: 11 Aug 04.

"It's wryly amusing to read what was said in some of the old notes! I especially like:

"... CLICK GO THE SHEARS ... Perhaps the most famous of the Australian bush songs, the tune is derived from an old English song, "Ring the Bell, Watchman". "

I wonder how some of the orignal cast members would have reacted to knowing that Click Go The Shears was a direct parody of an American song - Ring the Bell, Watchman ... written by Henry Clay Work to celebrate the ending of the American Civil War!"

As far as we can figure, it's a simple major tune, normally played with basic 3-4 chords, regardless of where it finishes.
He also wrote My Grandfather's clock, Marching through Georgia, Father dear Father come home with me now, and lots of other lesser known songs including the melody for Charlie and the MTA or The ship that never returned.
They all seem to be in good old major keys (and it proves you can write melancholy songs in a major key).

Robyn