Inspired by Henry Austin Dobson's poem "Paradox of Time", and with its 100 figures passing before Father Time, the work was created as a monument to the first 100 years of peace between the United States and the United Kingdom, resulting from the Treaty of Ghent in 1814. Although the fountain's water began running in 1920, the sculpture was not dedicated to the city until 1922. The sculpture is a contributing structure to the Washington Park United States Registered Historic District, which is a National Register of Historic Places listing.