I'm not even sure if it's folk (it might be filk, rather...).What I can remember is this:
The verses go on about various glamorous & adventurous roles (soldiers, sailors, pirates, blah...) always ending with a line that explains how the singer instead wants to be like the man who drinks his drink in the pub "& goes quietly home..."
The verses have quite a gentle melody & rhythm, unlike the cossacky sounding chorus which runs along the lines of -
"If we drink, we will die,
If we don't drink, we will die,
So we might as well say 'What the Hell!',
And raise our glasses high
[Line I can't remember]
You'll be dying just the same
So you might as well say 'What the Hell!',
And join us in a game! Hey!"Something like that, any way. If anyone has the slightest clue as to any of the missing lyrics, title (at a guess, "If We Drink We Will Die", but I've never found anything under that title), or tune, I would be most grateful - I've occasionally (i.e. when I've remembered to ask someone!) been trying to track this one down for a few years.
Many Thanks