Analysis of A Mate can do no Wrong

We learnt the creed at Hungerford,
We learnt the creed at Bourke;
We learnt it in the good times
And learnt it out of work.
We learnt it by the harbour-side
And on the billabong:
'No matter what a mate may do,
A mate can do no wrong!'
He’s like a king in this respect
(No matter what they do),
And, king-like, shares in storm and shine
The Throne of Life with you.
We learnt it when we were in gaol
And put it in a song:
' No matter what a mate may do,
A mate can do no wrong!'
They’ll say he said a bitter word
When he’s away or dead.
We’re loyal to his memory,
No matter what he said.
And we should never hesitate,
But strike out good and strong,
And jolt the slanderer on the jaw –
A mate can do no wrong !