It is situated on Calton Hill overlooking the city of Edinburgh and was designed by Scottish architect William Henry Playfair.

Dugald Stewart was a professor at the University of Edinburgh and a key figure during the Scottish Enlightenment, holding the chair of moral philosophy from 1786 until he died in 1828.

This example of the architecture of ancient Greece had been brought to wider attention by James "Athenian" Stuart and Nicholas Revett's illustrated survey, The Antiquities of Athens, published in 1762.

The choragic form was also used for the nearby contemporaneous Robert Burns Monument, designed by Thomas Hamilton.

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