Heard this on "Tunes" by Shannon, Gavin, McGoldrick, and Murray. I found this on JC’s this is the closest match to the one on the album.
Billy In the Lowground
This is an American version of a much older tune which has been known in Scotland for centuries, and it has a few Irish variants too. "The Braes of Auchtertyre" was first published in Stewart’s Collection in c1761,and later became a strathspey; however, it likely stemmed from an even older tune, "O Dear Mother, What Shall I Do?" (to which it is said the jigs "Blue Bonnets Over the Border" and thus "Scotsman Over the Border" related).
In Ireland the tune has been called "The Belles of Tipperary" and "The Beaux of Albany", and another tune, "Miss Monaghan" is related.
Billy in the lowground
This is close to the bluegrass version favoured by guitar players. A great version is played by Byron Berline (fiddle) and the late Clarence White (guitar) with the band Country Gazette.
Great version here http://youtu.be/5RCOIvf7NY4?t=3m20s
Billy In The Lowground, X:2
Terrie Kane, a mandolin player in upstate NY, taught me this about thirty years ago. It didn’t jive with my local flatpicking boys so I like it all the more. I use Dm and C for A part and F and Am for the B part.