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I also lead into the verse with   
e+-----------2--  
b+--2--3--5-----  
g+--------------  then picking out of the D chord, etc.   
d+-----------0--  
a+--0--2--4-----  
e+--------------
  

D  
Livin' on the road, my friend,   
A  
Was gonna keep us free and clean,   
G  
But now you wear your skin like iron  
        D           D/C#    D4/B       A  
And you breath's as hard as kerosene.  
G  
You weren't your mama's only boy  
        D        D/C#    D4/B  
But her favorite one, it seems.   
    D  
She began to cry  
         D/C# D4/B A    A7  
When you said good bye   
    G             Bm  
And sank into your dreams.   
  
(same chords as first verse)   
Pancho was a bandit, boys,   
Rode a horse fast as polished steel,   
Wore his guns outside his pants   
For all the honest world to feel.  
Pancho met his match, you know,   
in the deserts down in Mexico.   
No one heard his dying words   
But that's the way it goes.  
  
Chorus (words change slightly, each time)   

[Refrão]
G  
And all the federales say   
     D        D/C#    D4/B  
They could've had him any day.   
      D    D/C#    D4/B     A   A7  
They only let him slip away   
       G               Bm  
Out of kindness, I suppose.But all the federales say   
They could have had him any day.   
They only let him slip away   
Out of kindness, I suppose.  
  
Now, poets sing how Pancho fell,   
and Lefty's living in a cheap hotel.   
The desert's quiet and Cleveland's cold  
And so the story ends, we're told.   
Pancho needs your prayers, it's true,   
But save a few for Lefty too.   
He only did what he had to do   
And now he's growing old.   
  

[Refrão]
And all the federales say   
They could've had him any day.   
They only let him go so long   
Out of kindness, I suppose.  
  

[Refrão]
Yes, a few gray federales still say   
They could've had him any day.   
They only let him go so wrong  
Out of kindness, I suppose.