Like most of the nursery rhymes we know, this is a coded political satire. I don't remember the particular story associated with this one, but I remember something about Jack Horner.

My memory is pretty vague, but as I recall the real-life Jack Horner was a political-benefit seeker, and the "plum" in his Christmas pie was a royal grant to some land. Others may know more of this sort of thing.

Dave Oesterreich