The city was named for Colonel W.R. Wallace, a landowner. The elevation is 2,728 feet (831 m) above sea level. Wallace is the principal town of the Coeur d'Alene silver-mining district, which produced more silver than any other mining district in the United States. Burke-Canyon Road runs through historic mining communities many of them now deserted north and eastward toward the Montana border. East of Wallace, the Route of the Hiawatha (rails-to-trails) and the Lookout Pass ski area are popular with locals and tourists. Wallace is a historic city in the Panhandle region of the U.S. state of Idaho and the county seat of Shoshone County in the Silver Valley mining district. Wallace sits alongside the South Fork of the Coeur d'Alene River (and Interstate 90) and the town's population was 784 at the 2010 census.