Be executed by hanging

- it means he is going to be hanged (killed by hanging) - probably it’s not literal, so he means there will be a consequence or a penalty he will face from doing it, but he’ll take that risk (Hazard the trip). It’s poetic and old fashioned use.

Well it sounds like the poet is saying he's anticipating the journey ahead or excited "though I hang for it shortly" But I don't know the overall tone of the whole poem so that's just one option if the poet is happy or keen for this trip he's taking. But if he's anxious or nervous in the over all tone of the poem then that line sounds like he's expressing that anxiety. "I'll hazard the trip" is literally just the poet saying they'll go on the trip even though it might be dangerous. We know it'll be dangerous cause of the word _hazard_ So basically; even though I feel excited or anxious about this journey I'll still go ahead.