The monument to Christopher Columbus in what we now call Columbus Circle was one of the dozens of monuments erected in the Americas and Europe to mark the 400th anniversary of Columbus’ voyage, but this one was especially significant to New York’s growing Italian American population. Led by Carlo Barsotti, publisher of the newspaper Il Progresso Italo-Americano, the Italian American community raised funds and paid for the monument itself. At the time, Columbus, born in Genoa, was perhaps the most widely celebrated figure of Italian descent in the United States. As Italian immigrants faced discrimination and struggled to forge an identity in their new home, many found in Columbus a symbol of both Italian heritage and American pride.

At the unveiling, on October 12, 1892, Luigi Palma di Cesnola addressed the 10,000 people in attendance:

"The countrymen of Columbus, the Italians resident and citizens in the United States, conscious indeed that his true monument is this great land, its institutions, its prosperity, its blessings, its lessons of advance for all humanity, have yet desired to testify, to at least the present generation, their full and unfailing sense of their great peculiar debt. They have procured, in contributions great and small, but uniformly large in spirit, the execution of this monument; and they have erected and presented it in token of their affection and gratitude to this great and beloved country; the country in which they have found a permanent home, a more congenial form of government, and better and freer facilities honorably to earn their livelihood."