Snug as a bug in a rug

I am so accustomed to finding clues (if not answers) with a Google search, I was astonished to strike out completely when I Googled each of the first two lines of this verse:

Money is the milk in the coconut
Money is the cream in the jug
Money is your honey, when you've got a pile of money
You're as snug as a bug in a rug.

When I was a child, I often heard my grandfather sing this ditty -- usually after he'd perused the stock pages of the Boston Globe.

I came away with the impression that the bug was enjoying itself somewhere in the vast ruby-red expanse of my grandmother's Oriental rug.

If you've seen or heard this song somewhere, please email me. I'm very curious to know more about it.

NOTE: A reader emailed me with information that this is a folk song, and a blander version of it appears in Carl Sandburg's 1927 collection, American Songbag. I'm going to hunt the book down to see if there are more verses.