This one is one of Steeleye Span's best, and I think one of the best songs/sets ever. The events in it are factual. Rick Kemp, Steeleye's then-bass player and occasional vocalist, put together four songs, or sets of lyrics, to create this cut.
I'm gonna go into instructional mode for the rest of the post, so if you're not interested, click on the song. If you want to hear some spectacular singing straight away, go to about the 5:30 minute mark for song #3.
James Graham was the fifth Earl Montrose. His story is not unlike that of Robert E Lee, except that he was a loyalist to the big government and they hanged the leaders of the losers in the 17th century. He was a member of the Scottish aristocracy, and had an absolutely brilliant military mind. By a "historical accident", James became king of both England and Scotland, dividing Scotland among loyalists to the English and Scottish loyalists. Montrose wasn't crazy about English rule, but hated the amount of power the Church (Kirk) was amassing in Scotland.
The song begins with his youth, his struggle with loyalty to Scotland and England, the war, and his demise. The third part has some of the best multi-part harmony I've ever heard.