" Liberty" is another word for " freedom." We have, in the United States, the Statue of Liberty, given to us by the country of France in the 19th century.
She makes a good point - for children and adults alike, when it comes to giving, think about offering something other than a material object that may get forgotten, discarded or re-gifted.
That lost parchment once restored, the beautiful Alice Pyncheon, with the rich dowry which he could then bestow, might wed an English duke or a German reigning-prince, instead of some New England clergyman or lawyer!