In 1932, the State of Missouri purchased 120 acres of virgin timber land located approximately five miles southeast of Cameron. This land was to be used to build a state park which would be named Wallace State Park. The land was owned by the George O. Wallace estate and brother of W. J. Wallace.
The plans called for the construction of an artificial lake of approximately 20 acres in size. It was to have a depth to range to 30 feet to be used for boating and bathing. The 120 acre tract of land was purchased for $5,349. A dam was scheduled to run across Deer Creek, which ran through the tract.
Entrance to the park was to be made through the stately old elm and other native trees. These trees had guarded an old trail since the early Mormons had used it traveling to their then thriving city of Far West, four miles from the tract. The lake was to be encircled by heavy timber and a winding trail would lead to the lake, the clearing for the caretaker’s home, campsite, and the sloping beach to the water line.
The land on which the park was to be located was a historic spot. It was originally owned by James Wallace shortly after the Civil War and passed from him to his two sons, George O. Wallace and William J. Wallace. Mrs. George O. Wallace whose father was Samual Wilhoit, was a pioneer and was born on a tract adjoining the park. Her father homesteaded this tract.
— researched and presented by Wilbur Bush, Gallatin, MO (2003)