Here's a longer version of the song posted by Sorcha above, on 21-April-2002, copied along with notes:

From The Palatine Note-Book, Volume 2 (Manchester: J. E. Cornish, 1 December, 1882), page 272:

The Manchester Ship Canal.—As this project is once more brought before public notice, and apparently with more spirit for its accomplishment than in former days, I enclose the copy of an old song on the subject that I heard at the theatre in Manchester, now some sixty years ago. Its reproduction may interest your readers.


THE MANCHESTER SHIP CANAL.
Sung by Mr. Hammond at the Theatre Royal, Manchester, from a broadside printed by J. Pigot and Son, 16, Fountain-street.

1. I sing a theme deserving praise, a theme of great renown, sir:
The Ship Canal in Manchester, that rich and trading town, sir.
I mean to say, it once was rich, ere these bad times came on, sir;
But good times will come back, you know, when these bad times are gone, sir.

Bow-wow-wow.

2. In eighteen twenty-five, when we were speculating all, sir,
We wise folks club'd together, and we made this Ship Canal, sir.
I should have said we meant to do so, for we'd schemes laid down, sir,
That would have made this Manchester a first-rate seaport town, sir.

Bow, &c

3. Near Oxford Road the dry dock is, to caulk and to careen, sir.
Our chief West India dock is where the pond was at Ardwick Green, sir;
That is to say, they might have been there, had these plans been done, sir,
And vessels might have anchored there of full five hundred tons, sir.

Bow, &c

4. Instead of lazy Old Quay flats, that crawl three miles an hour, sir,
We'd fine three-masted steamships, some of ninety horses power, sir;
That is, had it been made we would; and Lord! How fine 'twould be, sir,
When all beyond St. Peter's Church was open to the sea, sir!

Bow, &c

5. At Stretford, Prestwich, Eccles too, no weaver could you see, sir.
His shuttle for a hand-spike chang'd, away to sea went he, sir.
I'm wrong, I mean he would have done so, had it but been made, sir;
For who would starve at weaving who could find a better trade, sir?

Bow, &c.

6. Alas! then, for poor Cannon Street, the hookers in, poor odd fish!
Instead of catching customers must take to catching cod fish.
That is, supposing it was made, may it ne'er be, I wish, sir;
These cotton baits for customers would never do for fish, sir.

Bow, &c

7. Alas! too, for poor Liverpool; she'd surely go to pot, sir.
For want of trade her folks would starve; her Customhouse would rot, sir.
I'm wrong, they don't exactly starve or rot, for it is true, sir,
They might come down to Manchester; we'd find 'em work to do, sir.

Bow, &c.

8. Success then unto Manchester! and joking all aside, sir,
Her trade will flourish as before, and be her country's pride, sir.
That is to say, if speculation can but be kept down, sir;
And sure we've had enough of that, at least within this town, sir.

Bow-wow-wow.

There was another song on the same subject, with the title, "When Manchester's a seaport town, sir," having the refrain after each verse,

It will be true, I'll lay you a crown, sir,
When Manchester's a seaport town, sir.

I have not preserved a copy of this song, but probably some of your readers may have done so, and will be able to supply you with a copy as well as with the name of the author.

William Harrison.
Rock Mount, Isle of Man.