Answer:
I am an English word that is as long as I am valued.
I always have to work with something in my eye.
What insect does a blacksmith manufacture?
Six letters do my name compound; among the aged oft I'm found; The shepherd also by the brook hears me when Leaning on his crook; but in the middle me divide and take the half on either side each backward read a liquor tell ev'ry gay toper knows it well.
I have an eye, but I can't see. I usually have to work with something in my eye. What am I?
It has no top or bottom, but it can hold flesh, bones, and blood all at the same time.