For a while in the early ’70s, Rod Stewart was the best Bob Dylan interpreter around. His recordings don’t make the “Best Bob Dylan Covers” lists anymore, but this one was so good it kept Dylan from officially releasing his own version for decades. It had been released to the public only once before Stewart included it on his 1970 “Gasoline Alley” LP.
It’s unclear whether Dylan wrote the song, with roots in folk standards like “Only a Miner,” in 1962 or 1963. Though the copyright is for 1963, a radio performance purportedly from 1962 exists.
Dylan recorded it in 1963 for possible inclusion on “The Times They Are a-Changin’,” but it didn’t make the cut.
In 1971 Dylan agreed to release a double-LP “greatest hits” album to highlight songs, chosen himself, including many he wrote but others recorded. One was “Tomorrow Is a Long Time,” which got a lot of exposure when Stewart covered it on his multi-platinum “Every Picture Tells a Story,” released in June 1971. (Dylan used a live version from his 1963 Town Hall concert for the album.) He wanted to include “Only a Hobo,” too, but didn’t like his earlier recordings, so it was among several songs Dylan re-recorded for the album with Happy Traum. Once again, he chose not to release the result.
Dylan finally released the 1963 studio recording in 1991, on his first Bootleg Series box set.
BTW, the first release of the song was on the 1964 album “Paths of Victory” by folksinger Hamilton Camp, who later became an actor.