"The first strike by women workers occurred in 1828 when 400 women in Dover, NH walked off their jobs to protest working conditions. Life in the factories had not improved by the start of the 20th Century, and by the 1930's cotton mill girls were "turning out" in force with other workers demanding unionization, better pay and humane working conditions."
I think the song is related somehow to "Barlow Knife". I have it listed as traditional from one source.