This song primarily references a photograph from the Toronto archives of a white horse jumping from a wooden tower located at the historical amusement park on Hanlan's point into the calm waters of lake ontario.
According to BlogTO, "The horse in the picture was named either King or Queen and was one of a pair owned by J.W. Gorman, a travelling American entertainer who appeared at amusement parks in Boston, New York, and other parts of New England, as well as Toronto.
The image is apparently the most popular photograph in the Toronto archives.
Diving white horses they climbed up again
Look down to the clear blue lake
Diving white horses were beautiful then
Kings and Queens of a dream we could never wake, from
If I must leave here before my time
If the last boat has gone for the night
May a picture of diving white horses in flight
Guide me in to the white of the endless light
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