By 1910, Monarch was a thriving hamlet with a branch of the Canadian Bank of Commerce, a one room school, two hardware stores and with all passenger and mail trains stopping there.  A brickyard which produced varying qualities of clay bricks kept the community going for a short time.

Highway 3 used to go through Monarch but now bypasses the community completely and over the years population and industry have declined with people moving to larger areas.  There are 227 people (2016 Statistics Canada) who reside in this community that is 23km northwest of Lethbridge.