I found 10 copies of this song on the Internet. Eight of them had “for you and me” on line 2. I suspect “for you and I” was original, since it rhymes. I don’t plan to sing it, but it’s an interesting historical artifact.

Copied from http://www.geocities.com/mkcathy/statue.html

STATUE OF LIBERTY
(Neil Enloe)

In New York harbor stands a lady with a torch raised to the sky.
And all who see her know she stands for liberty for you and I.

I'm so proud to be called an American, to be named with the brave and the free.
I will honor our flag and our trust in God and the Statue of Liberty.

On lonely Golgotha stood a cross with my Lord raised to the sky,
And all who kneel there live forever, as all the saved can testify.

I'm so glad to be called a Christian, to be named with the ransomed and whole.
As the statue liberates the citizen, so the cross liberates the soul.

Oh, the cross is my Statue of Liberty. It was there that my soul was set free.
Unashamed I'll proclaim that a rugged cross is my Statue of Liberty.