Lines 1-4: The opening stanza reflects on the ship’s “ensign,” or the naval flag flying from its mast, symbolizing the Constitution itself. Although Holmes did not create the nickname “Old Ironsides,” it serves as a metaphor—ironclad ships were not introduced until the Civil War. Similar to the “tattered” flag, the ship has endured significant challenges. Just as the flag has “Long has it waved on high,” the ship holds a prominent place—not physically, but within the imagination. Due to its historical significance, the Constitution is perceived as a symbol of the “higher” virtues that the republic represents. One such virtue is freedom, which, in the early United States, was closely linked to the two wars against Britain. Therefore, the ship holds deep symbolic value for many Americans whose eyes have “danced to that banner in the sky.”

Lines 5-8: In lines 5 and 6, the flag flying high is contrasted with the battle sounds below. These sounds are depicted through alliteration, the repetition of initial consonant sounds like “beneath,” “battle,” and “burst.” This technique appeals directly to the senses, allowing the reader to not only understand but also feel the stark contrast between the symbolically important flag and the harsh reality of the battles that preserved the nation. Holmes then appeals to the reader’s emotions, mourning the loss of the symbol: the flag “shall sweep the clouds no more!”

Lines 9-16: Notice the alliteration in lines 11 and 12. As in the first stanza, this device is used to convey the sounds and feel of the sea: the “winds” and the “waves … white below.” While the first stanza uses sound to highlight a philosophical contrast, these lines primarily aim for an emotional impact. The images are highly romanticized—the “heroes’ blood,” the “vanquished knee,” the “victor’s tread”—appealing directly to the reader’s patriotic feelings. Philosophy barely intrudes into this realm of sentimentality, and only in a simplistic manner: Holmes contrasts a glorious past with a future where that glory will be “no more.” Finally, the poet emotionally targets the officials proposing to scrap the Constitution, referring to them as “harpies of the shore” (malevolent creatures from Greek mythology that are part women and part bird) who wish to “pluck the eagle of the sea.” Since the eagle symbolizes the United States, and “plucking” a bird strips it of its majesty, the implication is that those wanting to dismantle the Constitution are unpatriotic. This aims to incite the reader’s indignation and direct it toward a specific target.

Lines 17-24: These lines introduce a romantic element to the poem. Instead of advocating for the preservation of "Old Ironsides" as one might anticipate, Holmes suggests that the ship's most appropriate "grave" is the sea itself—the "mighty deep" that the Constitution once "thunder shook." This shift gives the poem a broader theme: since death is unavoidable, it is preferable to die in a manner true to one's life rather than extend life through artificial means. This idea extended beyond Holmes's poetry; as a distinguished physician and medical essayist, he later criticized the excessive use of drugs to prolong life and supported allowing nature to take its course.

In the concluding lines, the poem adopts an imperative tone and gains a spiritual dimension. Holmes urges the reader to "nail to the mast her holy flag" and to "give her to the god of storms." This suggests that the way we die, much like how we live, is a blend of divine will and personal choice—the former requiring faith, and the latter demanding action.