Chorus:
Round The Corner is a long, long way, to Valipo and Callao Bay,
Round The Corner we must roam, we don't care if we never go home.

Say, was you ever off Cape Horn,
Where your ass is never warm.  (Chorus)

There's ice and snow and sleet and rain,
You'll meet them coming back again.  (Chorus)

Oh, when we reach those Western seas,
We'll drop right in to Madam G'shee's.  (Chorus)

Them Spanish gals will make you smile,
You'll want to stay for a long, long while.  (Chorus)

Up aloft this yard must go
Mr. Mate has told us so.   (Chorus)

The lyrics quoted in Songs of American Sailormen, by Joanna Colcord give the line:  "To Madam Gashee's we all will go."

Callao is a port town adjacent to Lima, Peru on the west coast of South America.