The Swamp Monument is found in east South Vale near the end of Lindsey Street in Silent Hill 2.
The monument is an account of Silent Hill's past, as the area surrounding the monument used to be a swamp, which was used by the executioners of that time (presumably from Toluca Prison) to wash their tools in. Because of this, it was nicknamed the "Blood Swamp".
Transcript
"Remains of _____ Swamp
The ____ers of land surroun____
__is monument was originally
swamp, but was later fil_____
Fr_____ng ago, t__________s
nicknamed Blood Swamp because
the _______ers poured the wat__
_sed to was the ex______ols
in here.
Perhaps it's fo______hat
many pe_____m to have s____
______n the area."
Restored text
"Remains of Blood Swamp
The x meters of land surrounding
this monument was originally
swamp, but was later filled in.
From long ago, the swamp was
nicknamed Blood Swamp because
the executioners poured the water
used to wash the execution tools
in here.
Perhaps it's for that reason
many people seem to have seen
ghosts in the area."
Trivia
- In Apt. 202 of Wood Side Apartments, the kitchen sink faintly glows red. This is the same red glow as surrounds Pyramid Head in his first appearance. It is possible that Blood Swamp, having been stained red as a basin for executioners' tools, is the missing link in a connection between the sink and Pyramid Head, whose appearance and purpose are derived from such executioners.