This was not the famed Arthur “Guitar Boogie” Smith, but an earlier musician known as Fiddlin’ Arthur Smith, who performed for a time with country music pioneers Alton and Rabon Delmore (aka The Delmore Brothers) as the Arthur Smith trio. Smith and Alton Delmore wrote and first recorded this waltz which would emerge years later in 1951 as both a country and mainstream ‘pop’ song hit for both Jimmy Wakely (https://www.youtube.com/watch?v=UN9v4TF6wdo ) and Rosemary Clooney (https://www.youtube.com/watch?v=MCm2Nw2PL_w ), though with a slight lyric change to cut back on the alcohol references.
Transferred from 78rpm Bluebird B-7221 - Beautiful Blue Eyes (Arthur Smith-Alton Delmore) by The Arthur Smith Trio, recorded August 3, 1937