On May 8, 1942, Wallace delivered his most famous speech, which became known by the phrase "Century of the Common Man" to the Free World Association in New York City. This speech, grounded in Christian references, laid out a positive vision for the war beyond the simple defeat of the Nazis. The speech, and the book of the same name which appeared the following year, proved quite popular, but it earned him enemies among the Democratic leadership, among important allied leaders like Winston Churchill, and among business leaders and conservatives.
Wallace spoke out during race riots in Detroit in 1943, declaring that the nation could not "fight to crush Nazi brutality abroad and condone race riots at home."
Regarding trade relationships with Latin America, he convinced the BEW to add "labor clauses" to contracts with Latin American producers. These clauses required producers to pay fair wages and provide safe working conditions for their employees and committed the United States to paying for up to half of the required improvements. This met opposition from the U.S. Department of Commerce.
Wallace believed that both the American and the Russian revolution were part of "the march to freedom of the past 150 years." After having met Molotov, he arranged a trip to the "Wild East" of Russia.
After Wallace feuded publicly with Jesse Jones and other high officials, Roosevelt stripped him of his war agency responsibilities and entertained the idea of replacing him on the presidential ticket. The Democratic Party, with concern being expressed privately about Roosevelt being able to make it through another term, chose Harry S. Truman as Roosevelt's running mate at the 1944 Democratic convention.
82 days after being re-elected, Roosevelt died. Wallace came oh-so-close to having nearly a full term as president.
Roosevelt placated Wallace by appointing him Secretary of Commerce. Wallace served in this post from March 1945 to September 1946, when he was fired by President Harry S. Truman because of disagreements about the policy towards the Soviet Union.
Following his term as Secretary of Commerce, Wallace became the editor of The New Republic magazine, using his position to vociferously criticize Truman's foreign policy. On the declaration of the Truman Doctrine in 1947, he predicted it would mark the beginning of "a century of fear."
Wallace left his editorship position in 1948 to make an unsuccessful run as a Progressive Party candidate in the 1948 U.S. presidential election. With Idaho Democratic U.S. Senator Glen H. Taylor as his running mate, his platform advocated friendly relations with the Soviet Union, an end to the nascent Cold War, an end to segregation, full voting rights for blacks, and universal government health insurance. His campaign was unusual for his time in that it included African American candidates campaigning alongside white candidates in the American South, and that during the campaign he refused to appear before segregated audiences or eat or stay in segregated establishments.
Many eggs and tomatoes were hurled at and struck him and his campaign members during the tour, while at the same time President Truman referred to such behavior towards Wallace as very un-American. Wallace commented that "there is a long chain that links unknown young hoodlums in North Carolina or Alabama with men in finely tailored business suits in the great financial centers of New York or Boston, men who make a dollars-&-cents profit by setting race against race in the far away South."
He got 2% of the vote.
4 years later he walked back his pro-Soviet talk and condemned Stalin. The quoted stuff above is all from wikipedia and that's all I've read about him but it seems like an interesting piece of history.
FDR/Wallace were willing to give a lot to Stalin as thanks for bearing the brunt of the war, if not for Truman coming along and going hardline and backing out of a bunch of promises we probably wouldn't have had the Iron Curtain/start of the Cold War like we did