This song is the first track from Steele's album Garbage! and other Garbage (Bay Records BAY 202 - 1973) - see more info on the album here, or listen to the song here (your browser may try to automatically download the file).

Here's how he introduces the song on his (archived) website, linked above: Definitely a remnant of the 60s, but not quite what you think. Really meant as a takeoff on the idea so many people had then that the right pill would solve all their problems. Judging by the prescription drug ads on TV that idea is still with us.

Daivid Usher's post above is pretty true to the original lyrics.