On the IBM/Lexmark Wheelwriter 1000, the ink ribbon cartridge slides first in the back, and then pops down in the front. If you've loaded it until you feel it 'click' into place, and your ribbon still isn't low enough for the letters to strike, then you have a problem.
Generally, the only reason that the ribbon would be raised like that, is for the typewriter's corrective ink. When you backspace/correct a character, the ink ribbon moves up, so that the corrective ribbon is now in place. Once you're done with your corrections, the ink should move back down into place. If that's not happening, you may have some sort of mechanical problem. One of the easiest fixes is to pop the ink ribbon out, and look at the little carriage unit where it sits. If you look along the edge closest to the keyboard, you should see a small gear slightly protruding from underneath the carriage. Turn it in one direction, and the carriage moves up. Turn it in the other direction, and the carriage will move up slightly, and then lower again.
Just keep turning it until the carriage stops moving (the gear will continue to turn freely, even though the carriage isn't affected). Now the ink ribbon should be in the proper spot when you try to type.
If your typewriter is broken, or if you need typewriter repairs, give us a call. Cincinnati Repair is the leading service provider for typewriter repair in Cincinnati.