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After starting the Oreornogo claim (later to be known as the Hecla)
in 1883, Colonel William R. Wallace (not a real colonel) purchased eighty
acres of land at the confluence of the major canyons near Burke. The
land was covered with large cedars and was swampy. He purchased the
land with Sioux scrip that was later declared illegal tender, causing
property ownership disputes that lasted for years. He built a cabin in
1884 and called the new community Placer Center. His wife, Lucy, arrived
in the following year, changed the town's name to Wallace, and became
its first postmaster for a population of fourteen people.
Colonel Wallace died in 1901, in Wittier, California. The newspaper
epitaph only mentioned that he was a cousin to General Wallace, the
author of Ben Hur. Idaho's first Territorial Governor in 1863
was named William H. Wallace, but was not related to the town's founder.
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