Reducing .75" from your tire size can be made to work, but may do weird things to the handling and increase the risk of pedal strike. Also, what's the point?

If you insist on going narrow, Continental makes a 28mm version of their Grand Prix for 26" wheels. A bit larger than 1", and a decent tire.

On a budget, without the narrowness requirement, I'd probably go for a 26x1.75" Pasela.

Not on a budget, I'd go with a 26" Compass tire.

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If you want something bombproof and don't mind up loosing some speed, maybe look into 26" options from Schwalbe's Marathon lineup.