When he learned that a brother and a cousin had been killed in the Goliad Massacre, he set out for Texas to "take pay out of the Mexicans"; years later, he confessed that he believed the account had been squared.

As a member of the John Coffee Hays's Rangers, Wallace killed "as many inoffensive Mexicans as he could to avenge his imprisonment after the Mier Expedition".

[4] Larry McMurtry included a fictionalized version of Wallace in his Lonesome Dove prequel, Dead Man's Walk.

In this book, Wallace is one of the Rangers who signs on with Augustus McCrae and Woodrow Call to go on the Texan Santa Fe Expedition.

After they are captured by Mexican authorities, they are made to draw beans to decide who will live or die, a method borrowed from the Mier Expedition.

In the History Channel 5-part television miniseries, Texas Rising, Wallace is played by actor Robert Baker.