What does the Statue of Liberty stand for?

It originally marked one hundred years of US freedom and independent rule, when presented as a gift from France during the 1876 Centennial Exposition.

During the early part of the 20th century, its prominent position in New York Harbor, near the Ellis Island immigration center, led to its association by tens of thousands of new arrivals with hope of a better life, and a promising start in a new and unfamiliar land.