Oklahoma folkie on his first album The Balladeer (Live at the Troubadour). Son of Mae Boren Axton who wrote Heartbreak Hotel (see: Dreaming Blues). Coauthor Ken Ramsey was in The Kingston Trio and first came up with it as some sort of cowboy saga song. Hoyt rewrote the lyrics, Ramsey agreed.
Woody Guthrie's Greenback Dollar (another Okie!) was his own song, re'corded for the L.o.C. in '40 and covered in '82 by David Byrne & Richard Thompson. Eddie Noack's Greenback Dollar, cut with his Gig Sparks in '49 and covered by Gene Vincent in '59, is also another song, not to mention Weems String Band's 1927 recording (reissued on Joe Bussard's Treasure Trove Of Vintage 78s 1926-1937).