Chapter C: And C for Christmas day

Y
And next in line comes letter Y;
It stands for youth and you;
We couldn't do without it,
It's in the New Year, too.

R
I have an R, it stands for Right,
And I will hold it high;

R
And mine I'll place beside it,
For R also have I.

E
I like the letter E the best,
For what is Earth without it?
And Everything begins with E--
Does anybody doubt it?