@egreg -- well, the first part scans, but there are too many syllables in the second clause. (whiskey, grappa, both rather fiery. i don't have any problem with that; in fact, i personally prefer grappa. but i'm not a logger.) if you want to match the tune, here's a proper rendition by the weavers (mostly pete seeger and fred hellerman):
youtube.com/watch?v=-gXr31zLBxM