Plaza de la Lealtad (Madrid)

Plaza de la Lealtad is a square in Madrid, Community of Madrid, Spain, located on the Paseo del Prado, where the Palace of la Bolsa – which houses the Madrid Stock Exchange – and the Ritz Hotel are located.

It is located on the grounds of the former Prado Alto, where a stream ran along its famous promenade in the 16th century, in what was a horticultural area. In 1613 the Torrecilla de Música was built, which appears on Mancelli’s plan; it was a small musical kiosk, which also served as a lodging: a drinking establishment.

Nearby was the Fuente del Caño Dorado, which supplied fresh water to the residents. The Torrecilla remained standing until the mid-18th century, when Charles III of Spain remodelled the Prado museum. Espinosa’s plan (1769) shows the area as landscaped. After the War of Independence, it was known as Campo de la Lealtad.

It is located to the northeast of the Plaza de Cánovas del Castillo, with which it borders. In the square stands the obelisk Monumento a los Caídos por España, by Isidro González Velázquez, where the ashes of the Madrid residents who rose up on May 2, 1808 and were shot on May 3, 1808 are deposited. It was built during the time of Isabella II. There is also a flame that is always lit.