Fortunately Stan Hugill did share the original versions, and was known to sing them in private "after hours" sessions outside his public performances. Some have now been published, see this recent thread:

Stan Hugill Unexpurgated Songs Published

Funnily enough I was thinking about this particular song only the other day, prompted by the discussion about whether we can still sing "black as any Moor". Like that, I rather think offensiveness is in the ear of the beholder. These are old songs, and like old songs in any genre don't always accord with modern sensibilities, but that doesn't mean they should not be sung.