Ron Charles of the Washington Post directed me to the existence of the article, but SI (much to my surprise) does not charge for archives.
Here is the link to the beauty of William Faulkner (yes, that nobel prize winning William Faulkner) writing about the Kentucky Derby.
And a great line of how to control Faulkner:
“Meanwhile, the only instructions Tower received from his editors concerning Faulkner “were to try to see that our guest did not become so preoccupied with the available whiskey that he neglected his assignment.””
Because there is nothing but Bourbon in Kentucky. They give it away for waking up in the morning. So, sit back, sip a mint julep, bet on the ponies, and read a Faulkner essay.