The initial 24 New Zealand electorates were defined by Governor George Grey in March 1853, based on the New Zealand Constitution Act 1852 that had been passed by the British government.
[2] Settlements in the initial area were Invercargill, Gore, Mataura, and Riverton.
The first election was held on 30 November 1859 during the term of the 2nd New Zealand Parliament, and was won by Dillon Bell.
[4] The electorate was named after Scottish military hero William Wallace.
[6] In 1938 additional areas added from Central Otago and the West Coast made Wallace the biggest (non-Māori) electorate in New Zealand.