This octagonal structure with the cross on top stands near where the original “market cross” stood back in 1365. You'll find a “mercat cross” in many Scottish towns and it marked the place where regular markets or fairs would be held. The current Mercat Cross in Edinburgh was built in Victorian times. In the past, this was the spot where traders would meet to do business with merchants. Many people were also tortured and murdered in this area, including the Royalist General Montrose and his supporters who were hanged in the 17th century. Originally the cross bore sculpted heads, but they were replaced by the royal arms of Britain, Scotland, England and Ireland, as well as the burgh arms of Edinburgh, Leith and the Canongate, and the arms of the University.