Monument and Sign 2

One of these artifacts is a product of a devalued aesthetic language,
its meanings resting on long vanished glories, but obscure and devoid
of significance to the contemporary viewer. The other is a symbol of
enduring civic values, of pride and a confident sense of identity.
But which is which?

Location

http://www.manchester.gov.uk/townhall/venues/history.htm

http://www.manchester.gov.uk/news/2004/mar/create.htm