What is the meaning of [Youth will be served]

Another version is **Youth will have its course**. Let the young enjoy
themselves while they can.

> When all the world is young, lad,
> And all the trees are green;
> And every goose a swan, lad,
> And every lass a queen;
> Then they, for boot and horse, lad,
> And round the world away;
> Young blood must have its course, lad,
> And every dog his day.