This text comes from an old joke book from 1800, called The New Jolly Jester Or Wit's Pocket Companion (page 24). It appears to be some kind of word puzzle, or pun, perhaps along the lines of "URYY4me" ("you are too wise for me"), but I can't make it out at all, except that "I: won: Tu: B: E: C:" might conceivably mean "I want to be easy".
Can anyone decipher this please?
Transcription follows:
An Epitaph
T: I: W.
--on--
K: I: won: Tu: B: E: C.
No os T. H. G: V: oh T: I.
T. I.
We: H: S: S: G. Ni: H: T. L. L
Ad.
Nat: Se: Ja: Se: Fil.