It's probably way things are made or the way the structure is
The correct option is this: THE SPEAKER HAS NOT YET CREATED A GREAT BODY OF WORK.
From the excerpt given above, the speaker is saying that the time is running by hastily on a daily basis and the speaker is getting old but he believe that what he has achieved so far does not correspond to his age. The 'late spring' used in the excerpt refers to the late youthful stage. The clause 'no bud or blossom showeth' implies that no great work has been done.
