The bronze figure on horseback is Rama V (King Chulalongkorn; r 1868–1910), the monarch widely credited for steering the country into the modern age and for preserving Thailand’s independence from European colonialism. He is also considered a champion of the common person for his abolition of slavery and corvée (the requirement that every citizen be available for state labour when called on).
Rama V's accomplishments are so revered, especially by the middle class, that his statue attracts worshippers (particularly on Tuesdays, the day of his birth), who make offerings of candles and flowers (predominantly pink roses). The statue is also the site of a huge celebration on 23 October, the anniversary of the monarch's death.