This song was composed by the crew of the Druid after their rescue from her demise in an 1878 gale. The crew cut away the masts during a hurricane, and when weather moderated, abandoned ship. The crew's dissatisfaction may stem from an earlier collision with an American cruiser. The Lunenberg schooner was captained by Charles Smeltzer and then Matthew Smeltzer. Jimmy Jackson would seem to be a fake name for William N. Zwicker, the ship's owner.
The rhythm varies and some measures are rendered in half-spoken, almost conversational fashion.