I learned this song from Bernd Gerken who claims that the tune is of an Irish origin. We performed it both in the "Klingende Runde für jung und alt" as well as in the Idle Fellows
. It's a sad old song but very tuneful. I can also remember teaching this tune to my penny whistle class in the "Klingende Runde für jung und alt" in 1981-1982.
It uses the Irish traditional tune of Kelly the Boy from Killane