"Seven Blessings of Mary" is an American version of a long tradition of songs devoted to the Virgin Mary going back to the middle ages. Various versions feature five, seven, twelve or as many as fifteen blessings (or joys).
This tune is from Lomax's The Folksongs of North America. It also appears in The Burl Ives Songbook.
It is also included in The New Oxford Book of Carols (#131).