See here, there is an interesting story about that monument, it's in French but you can google translate if you don't read French (monument 12 dedicated go Edward VII): https://www.google.ca/amp/s/mesquartiers.wordpress.com/2016/01/21/top-20-des-plus-belles-statues-a-montreal/amp/

The angel figure seems to represent the ingeniosity of Liberty, which looks at the chains it has jist broken: persecution and religious prejudices. This seems to be a reference to Edward VII, as his first decision, as newly crowned King of England, was to remove the part in the sermon about kings having to persecute Catholic religion followers.