HRM Monument #25: Memorial To John Cabot

In 1497 John Cabot landed at Newfoundland making the "discovery" of Canada. This piece of art was erected by the District of Venice, Italy, in 1997, to mark the 500th anniversary of the arrival of Cabot. While Cabot later sailed down the coast and found Cape Breton Island, I cannot think of any reason why this relief exists on the Halifax Waterfront near Sackville Landing, and not somewhere closer to Newfoundland.