Great song! I've been singing that since the late 1950s. I learned it from a record entitled "Songs from a Village Garret," recorded by Raphael Boguslav. He titled it "MacPherson's Fareweel."
The tune is essentially the same and most of the words, but some are a bit different from the Corries' version. Also, I have a considerably more elaborate guitar accompaniment (shooting for a "dirge" effect), and I do it as a ballad rather than a "clap-along."
Sound track from the "Ballads and Books" series on Seattle's first educational television channel. 1959. Buzz Anderson introduces the program, then me. My intro is from something I encountered as I was researching the song. I couldn't find much on MacPherson, but what my digging turned up related it to a similar incident.