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Built in 1956, the National Monument stands twenty-two meters high and is situated across from the Dutch National Palace in Dam Square. The monument was built to commemorate the causalities of World War II. The monument consists of a pillar; a sculpture entitled 'Peace' symbolizing suffering, loyalty, victory, liberation, and new life; and concentric circles surrounding the pillar and sculpture. May 4 is the Dutch National Day of Remembrance. On this day every year, a ceremony is held at the monument and the royal family lays a wreath at the base in remembrance of the lives lost in World War II.