"Don't you hear the water rolling?/Ho, ho, ho.../That we're riding off in trouble/Ho, ho, ho...)" Later verses take the form, "Don't you go and tell our father (mother, sister)/.../That we're riding off in trouble..."
Sharp notes, "The words of the song refer to men on a logging raft, which has got out of control and is drifting toward Niagara Falls." - PJS