The statue of Skuli Magnusson was erected in 1954 to mark a century of free trade in Iceland. Skuli Magnusson was born in the remote village of Keldunes in the north east of the country. He moved to Húsavik with his family before joining a Danish merchant's company as a teenager. Upon joining the company he was told by the merchant to "weigh it right", meaning to cheat customers. This made Magnusson angry, and he swore he would strive to replace the dishonest merchants. Magnusson then took up
