Lee Wallace would make an excellent buy for reading he is a top lb that has been overlooked for some reason, I doubt he would cost much or be on to higher wages. (Not much morethan a million). With the uncertainty at rangers ( financial problems and 2 managers leaving in a month) he may well be looking to move on. This may well be the answer to that tricky left back position.
If if think he'd cost 'not much more than a million', then you've probably answered your own question. No wAy should we be spending 7 figures ((plus wages) on a left back when there are more pressing needs. Our spending is heavily constrained (by the legacy of TSI and the effects of FFP rather than available cash) so every penny has to be spent wisely.