The area that the monument is situated is referred to as the Octagon. Westport is a 'planned town' designed by James Wyatt in 1780, (a planned town is one that has been designed from the beginning, rather than one that has grown up gradually over the ages), and it is said that the normal square was doubled to have eight sides and hence the name. The monument was erected in memory of George Clendining in 1843.
George was involved in banking and was appointed agent for the Bank of Ireland in 1826. He was also an agent for the Browne family of Westport House. George was a very successful entrepreneur and was credited with some of the early developments of Westport. He was held in very high regard in the town as a result, and shortly after he died in 1843 the people of Westport erected a statue of him on top of an octagon-shaped podium. The Clendining Coat of Arms adorned the statue along with the inscription "To the memory of George Clendining".
The statue was damaged and as a result, Westport UDC removed it along with the inscription. This was in 1943.
In 1990, Westport UDC erected a statue of St. Patrick on the plinth with panels depicting scenes from the life of our patron saint.