Doerflinger identified this as (a parody of) a revival song heard, e.g., at Salvation Army gatherings, where the singers resolved not to "drag on behind". More generally, it has roots in black folk music and was included in several collections of spirituals (Dett, Fenner & Rathbun, Johnson, Sandburg), . As a sailing song, the intention was to "all hang on behind." As Dick Maitland wrote, "The Golden Chariot! That's the chariot you ride upstairs on". Doerflinger identifies his tune as a form of Drunken Sailor.
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We'll roll the golden chariot along, We'll roll the golden chariot along, We'll roll the golden chariot along, Ch: And we'll all hang on behind!
If the devil's in the road we'll roll it over him, If the devil's in the road we'll roll it over him, If the devil's in the road, we'll roll it over him Ch: And we'll all hang on behind!
From Sandburg's "The American Songbag" (1927)
Roll the old chariot along Roll the old chariot along Roll the old chariot along And we'll all hang on behind!
A plate of hot scouse wouldn't do us any harm, etc.
A new plum duff wouldn't do us any harm, etc.
A glass of whiskey hot wouldn't do us any harm, etc.
From Thomas Wood's "The Oxford Songbook, II" (1927)