In 1896, the Saratov City Duma decided to establish a monument to Emperor Alexander II. Funding was provided through voluntary donations, which collected about 35 thousand rubles, and the city budget, which allocated about 6.5 thousand rubles. In 1901, 11 projects were submitted for a competition, from which the work of local sculptor N. P. Volkonsky was chosen. However, the construction committee, contrary to the jury's decision, approved the project of the famous Moscow sculptor, academician of the Imperial Academy of Arts S. M. Volnukhin.

The central part of the composition was a life-sized sculpture of the emperor, surrounded by figures of a peasant with a basket on his shoulder, making the sign of the cross ("Manifesto of February 19"), a teacher with a girl over a book ("Popular Education"), the goddess of justice with a book of laws and scales ("Justice"), and a Bulgarian woman showing a child the liberator tsar of the Slavs from the Turkish yoke ("Liberation of the Slavs"). The monument was adorned with decorative elements, including four double-headed eagles, imperial regalia, the coat of arms of Saratov province, and eight lion heads.

The monument was laid on May 30 (June 12) 1907, and its opening, timed to the 50th anniversary of the peasant reform of 1861, took place on February 19 (March 4) 1911. The celebrations began with a morning service in the cathedral, after which Bishop Germogen led a procession to the monument. The right to unveil the monument was granted to the city head V. A. Korobkov. The ceremony was attended by Vice-Governor P. M. Boyarsky, representatives of public and judicial institutions, and troops lined up along Nikolskaya Street. The celebration concluded with cannon salutes, the laying of wreaths, and a march of the Bashkadyklarsky, Aslanduzsky, and Karsky regiments.

The sculptural composition adorned the city for only seven years. In September 1918, the new authorities dismantled it, replacing it with a bust of N. G. Chernyshevsky. The pedestal was taken apart and used for a monument to F. E. Dzerzhinsky. All the sculptures were melted down, with only the teacher and girl surviving, which remained for a long time on the grounds of the 3rd Soviet Hospital near the children's building, and was later moved to a park on Moskovskaya Street.