I have an album by Scolds Bridle which has the song "The Smuggler" - is this perhaps the one you're after?

THE SMUGGLER
(Trad)

My love he is a smuggler, he sails upon the sea
And I wish I were a smuggler to sail along with he
To sail along with he for the brandy and the wine
And run the tubs at Slapton when the moon do shine

For Hollands it is a fine drink for them that feels the cold
And brandy is a better drink for them that's getting old
There are lights upon the clifftop when he is homeward bound
And we run the tubs at Slapton when the word goes round

For the king he is a fine man in his bright red coat
Oh but I do love my smuggler in his little fishing boat
For he runs the finest(?) lace and he spends his money free
Oh I wish I were a smuggler to sail along with he

Oh the Channel it is his kingdom from England down to France
And he leads the revenue carters(?) a very merry dance
And when he comes ashore he confounds the exciseman
And leaves his boat safe moored and he comes to me again

My love he is a smuggler, he sails upon the sea
And I wish I were a smuggler to sail along with he
To sail along with he for the brandy and the wine
And run the tubs at Slapton when the moon do shine
To sail along with he for the brandy and the wine
And run the tubs at Slapton when the moon do shine

The two words followed by question marks are not correct, but are the closest I can come phonetically to what is sung. There are no notes on the song, other than "Trad".

Joan