After the departure of the Burke and Wills Expedition, a committee of townspeople were formed to commemorate the event. The names of the people appointed were Captain Pasco, Superintendent Forster and Dr Gummow.

The obelisk was to be of brick stuccoed with cement. Mr Foster as treasurer of the project, and apparently without the full authority of the committee, instructed Mr Maddern to erect the obelisk with the materials available. The bricks, locally made were of inferior quality, but the work proceeded until a height of seven feet was reached when it had to cease for want of materials.

In the meantime Mr Foster had been severely censured by the Chief Commissioner for some breaches of the Service and was suspended form duty and shrtly afterwards resigned from the service. Inspector H M Chomley relieved Foster at Swan Hill, when Foster departed for Melbourne he took the subscription money with him and Maddern the builder returned to Adelaide in 1862 without getting on penny from the Memorial Committee.

Later, a memorial was built upon the same site.

Extract from the Swan Hill Guardian, 6th November 1945 .