Little Bill's House
Little Bill claims he is trying to civilize the west through the imposition of law and order. His authority is as leaky as the house he is trying to build, however. The house which leaks water is a perfect metaphor for his vision of a future frontier civilized through Draconian methodologies of jurisprudence.
W.W. Beauchamp's Book
The questionable veracity of the biographical details of English Bob along with Beauchamp’s willingness to sacrifice his original subject in favor of pursuing Little Bob’s history situates the book as a metaphor for history. Specifically, for the trope that history is written by the winners. For a part of the film, history for Beauchamp is what English Bob tells him. Then, almost on a whim, that history is put aside in favor of another completely subjective perspective. There is every indication that if any book ultimately does get published, it will be from Munny’s perspective. This shifting of perspective and variable nature of “truth” is the metaphorical equivalent of history being a story told by winners.
The Schofield Kid
The Schofield Kid becomes a historical metaphor as well. The young man is persona and pretension; his true self is not revealed until very late and that true self is far different from the persona. The nickname is the key to how the characters works best as metaphor. He is entirely self-generated; nothing is real about him. He exists only as a referential being. The nickname most immediately references Billy the Kid. Schofield references his gun. His supposed reputation as a gunslinger is a reference to dime novel portrayals of historical figures. This referential construction cannot stand up to scrutiny, it turns out, because he can’t see. His vision is so bad that he can’t even see he doesn’t have the makings of a killer in him until it almost too late.
The Brothel
The brothel is a metaphor for capitalism as it co-exists with the purpose of law enforcement. The only viable industry in the town that Little Bill rules with an iron fist is prostitution which is itself a steadfast metaphor for the mechanics of capitalism. Little Bill seems to be invested with a total authority over the town yet his primary interest as a law enforcement officer is to protect business rather than protect individual rights.
Munny
Munny is the metaphorical personification of America. He came into being through violence, but then sought redemption. When the threat of fascist authoritarianism threatens the foundation of democracy and equality, he takes on the trappings of his violent past to destroy it and make the world a little safer. But then he goes back to seeking the quiet of redemptive reflection, trying hard to forget his darker aspects and live for the promise of more lasting peace, until the need arises to strap on the guns again.