Historians have not been able to definitively identify The House Of The Rising Sun, but here are the two most popular theories:
1) The song is about a brothel in New Orleans. "The House Of The Rising Sun" was named after its occupant Madame Marianne LeSoleil Levant (which means "Rising Sun" in French) and was open for business from 1862 (occupation by Union troops) until 1874, when it was closed due to complaints by neighbors. It was located at 826-830 St. Louis St.
2) It's about a women's prison in New Orleans called the Orleans Parish women's prison, which had an entrance gate adorned with rising sun artwork. This would explain the "ball and chain" lyrics in the song.
The melody is a traditional English ballad, but the song became popular as an African-American folk song. It was recorded by Texas Alexander in the 1920s, then by a number of other artists including Leadbelly, Woody Guthrie, Josh White and later Nina Simone. It was her version The Animals first heard. No one can claim rights to the song, meaning it can be recorded and sold royalty-free. Many bands covered the song after it became a hit for The Animals.
Lyrics
There is a house in New Orleans
They call the Rising Sun
And it's been the ruin of many a poor boy
And God, I know I'm one
My mother was a tailor
She sewed my new blue jeans
My father was a gamblin' man
Down in New Orleans
Now the only thing a gambler needs
Is a suitcase and a trunk
And the only time he's satisfied
Is when he's on a drunk
[Organ Solo]
Oh mother, tell your children
Not to do what I have done
Spend your lives in sin and misery
In the House of the Rising Sun
Well, I got one foot on the platform
The other foot on the train
I'm goin' back to New Orleans
To wear that ball and chain
Well, there is a house in New Orleans
They call the Rising Sun
And it's been the ruin of many a poor boy
And God, I know I'm one