All that I had
In which I took delight
Out of sight

All that of which I dreamt
All that I was longing for
Now lost somewhere in time

Hidden in a heathen rhyme

Dreams that hold a nation


Time comes to turn
Misfortunes back around

Gaining ground
Time will return for dreams
Time for what we're longing for

By law we built this land
Would that it forever stand


Dreams that hold a nation

Allt, sem þjóðin átti og naut

Allt, sem hana dreymur
Allt, sem hún þráði og aldrei hlaut
Alþýðustakan geymir

[English translation:]
All that the nation had and enjoyed
All that it dreams of

All that it longed for and never had
Is kept in folklore