Lyric discussion by AndreAndre 

I think it's fairly simple. The singer has made many mistakes in his life (Think about how many times I have fallen) and he's spent most of his life searching for 'the right girl' (I have been around the world, looking for that woman-girl who knows love can endure). I think he was in love with a particular woman in the city (Got out of TOWN on a boat) where she did him wrong in some way a couple times (why twice you ran away), and to have some time to think he sailed for Papeete (and i do think it was a literal voyage - all of the guys in the band sailed, especially Crosby). He tries to call her in the bar, but on a midnight watch he realizes why twice she ran away - because she wasnt 'the right girl' for hi. He loved her and cant forget about her (What heaven brought you and me cannot be forgotten) but she wasnt 'the right girl' - the one he was really looking for. She was keeping him tied down, not free like he wanted to be (And my love is an anchor tied to you, tied with a silver chain) meaning the anchor [love] was holding him down in one place. Music is all he has left. But he trusts that, in the end, he will find 'the right girl' (Somebody fine will come along, make me forget about loving you at the Southern Cross).

spot on! i like how you brouhgt up the part about the anchor. no one else mentioned that yet even though it's now obvious to me (thanks to you) what he was saying

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