Construction began on its building on July 10, 1923, and it was delivered to the city of Lima on July 17, 1924.[6] The inauguration ceremony was lavish, with the presence of President Augusto B. Leguía, the mayor of Lima Pedro Rada y Gamio, Gonzalo de Ojeda y Brooke [es], as representative of the Spanish government, and Arias Carraseno, representing the Spanish colony.[2]
In 1938, President Óscar R. Benavides and his Minister of Development, Héctor Boza, ordered the demolition of the monument, alluding to traffic problems that it caused, and to widen Arequipa Avenue. The destruction with dynamite the following year caused unrest in the Spanish community, and some even interpreted Benavides' order as an act of political revenge against former President Leguía.
Carlos Dargent [es], a politician from Lima, carried out initiatives for its reconstruction in the original location on Arequipa Avenue when he was a councilor of the Municipality of Lima. When his motion was rejected, he relocated his proposal to the exit of the Vía Expresa, then to the Higuereta roundabout. They offered to reinstall it on Argentina Avenue [es], but he considered that it was not a good option. Years later, when he was mayor of the Santiago de Surco district, he was able to carry out the work, with the financing of various Spanish companies.[2]
^Contreras, Carlos; Cueto, Marcos (2016). Historia del Perú republicano (in Spanish). Vol. Tomo 6: Oncenio de Leguía. La Patria Nueva y la crisis mundial (1919-1933). Lima: Editorial Septiembre. p. 15. ISBN978-612-308-174-4.