[Buchan, who printed a longer version of this ballad in thirty-nine stanzas, believed young Waters to have been David Graham of Fintray, who was found guilty of being concerned in a Popish plot, and beheaded on the 16th of February, 1592. Chambers supposed that the fate of some one of the Scottish nobles executed by James I. after his return from captivity in England is alluded to. The various conflicting conjectures are none of them very probable, and there is nothing in the ballad that would conclusively connect it with authentic Scottish history. Percy's suggestion is peculiarly unfortunate, as young Waters was publicly executed at Stirling. Mr. Maidment points out (Scottish Ballads and Songs, vol. i. p. 62) that the first edition appeared under the following title, Young Waters, an Ancient Scotish Poem, never before printed. Glasgow: printed and sold by Robert and Andrew Foulis, MDCCLV. sm. 4to. pp. 8; and he suggests that Lord Hailes was the editor of it.]
About Yule, quhen the wind blew cule,
And the round tables began,
A'! there is cum to our kings court
Mony a well-favourd man.
The queen luikt owre the castle wa, 5
Beheld baith dale and down,
And then she saw young Waters
Cum riding to the town.
His footmen they did rin before,
His horsemen rade behind, 10
Ane mantel of the burning gowd
Did keip him frae the wind.
Gowden graith'd[669] his horse before
And siller shod behind,
The horse yong Waters rade upon 15
Was fleeter than the wind.
But then spake a wylie lord,
Unto the queen said he,
O tell me quha's the fairest face
Rides in the company. 20
I've sene lord, and I've sene laird,
And knights of high degree;
Bot a fairer face than young Watèrs
Mine eyne did never see.
Out then spack the jealous king, 25
(And an angry man was he)
O, if he had been twice as fair,
You micht have excepted me.