This is known officially as the Wilbur Chapman monument. Wilbur, a local ten-year-old, owned Pete, a prized pig. He sold Pete in 1910 to raise money for a leper colony. The story caught the attention of the press and then the people, so much so that "piggy banks" were invented as a generic way to save money.
E.B. White named the pig in Charlotte's Web "Wilbur" in honor of Wilbur, while all poor Pete got was a monument that isn't even named after him.
