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The original Banbury Cross was destroyed by Puritan zealots during the civil war.
Banbury Town Council history says this about the present cross
"Banbury Cross was erected in 1859 to celebrate the wedding of Queen Victoria’s eldest daughter, the Princess Royal, to Prince Frederick of Prussia. The sponsors of the Cross wished for a monument to be installed that would honour the occasion, and also serve as a “lasting credit and honour to the town."
The Cross was installed with three statues in 1914 of Queen Victoria, Edward VII and George V to celebrate the coronation of the latter in 1911. It is also engraved with the different arms of the town throughout its history, along with the town’s motto ‘Dominus nobis sol et scutum’ (The Lord is our Sun and Shield). On the upper part of the monument are the coats of arms of important people connected with the history of the town."