@mudasobwa also not sure, it can be some common attribute. It's basically variation of nimbo (or crown, which it is also kind of nimbo).
Saber and laurel (?) also point out to Victory. And also possible years of construction: Liberty become fashionable in Spain like 30 years ago/ You know, monarchy, fascism...
But i'm not an expert in allegorical figures and classical art in general, so i easily can be wrong
@MrClon technically, in 1873, the First Spanish Republic was proclaimed (it had not lasted for long,) and here in Spain has never been fascism, and Columbus had been erected to the 1888 World Fair, which was a worldwide cultural event, and, finally, Columbus literally tramples the statue, so everything fits.