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After President Truman took office Mr. Wallace retained his post as secretary of commerce. On September 12, 1946 he made a speech in New York castigating the administration's foreign policy as conducted by Secretery of State Byrnes at the Peris Peace Conference and urging a contrary policy of. appeasing Russia, though this would have amounted to a betrayal of the Western Zuropean Allies, The president demanded end . received his resignation from the Cabinet eight days later. With Senator - Glen EH, Taylor of Idaho Mr. Wallce founded a polical party called the _ Progressive. In July, 1948 this third party nominated Mr. Wallace and Senator Taylor as candidates. for president and vice president of the United States on an isolationist and pro-~Soviet "peace" platform, During the campaign both men accepted Communist support, The party polled 1,116,379 votes in. the November election, half from New York, but failed ‘to carry eny state. Mr. Wallace wrote PATHS OF PLENTY (1938) ana THES PRICE OF FREEDOM (1940), ~_