Political Career
Wallace gained the rank of Captain in the service of the 2nd Regiment of Life Guards Reserve, acted as a special Commissioner for the North-East coast and acted as Aide-de-camp to the Governor General of Canada in 1920 and was decorated with the award of the Military Cross (MC).
He was first elected to the House of Commons at Member of Parliament (MP) for Rugby 1922-1923, then represented Hornsey from 1924 until his death in 1941. He served as Assistant Government Whip 1928-29; Junior Lord of the Treasury 1929, 1931; Civil Lord of the Admiralty 1931-34; Under-Secretary of State for the Home Department 1935-35; Secretary for Overseas Trade 1935-37; Parliamentary Secretary to the Board of Trade 1937-38; Financial Secretary to the Treasury 1938-39. He was appointed as Minister of Transport in 1939.
Wallace was invested as a Privy Counsellor in 1936.
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