I found this version below in The Baby's Bouquet, A Fresh Bunch of Rhymes and Tunes by Walter Crane (1878):
1. If all the world were paper,
And all the sea were ink,
And all the trees were bread and cheese,
What should we do for drink?
2. If all the world were sand - O!
Oh, then what should we lack - O!
If, as they say, there were no clay,
How should we take tobacco?
3. If all our vessels ran-a,
If none but had a crack,
If Spanish apes ate all the grapes,
How should we do for sack*?
*The word sack comes from "vin sec" which is French for dry wine. So sack here means dry wine.
Here's a fun animation we created for this rhyme.
(Scroll down for the lyrics.)
This movie requires Flash Player 8. Download it here.