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Show SCHWAB FAVORS I U. S. VALUATION Should Remedy Hole Tom By Fluctuations in Foreign Exchange WASHINGTON. Jan 31 No tariff bill will hulld a foundation for prosperity unless It provides an American valuation valua-tion basis to "remedy the hole In our Present law which the fluctuations In forelg-n exchange have torn In It " Charles W. Schwab, of Nnw TorV. declared de-clared In o letter read today before the tariff convention here of the National Association of Manufacturers, by J. E Edjrerton, president of !b.e ass.clatlon "Today are confronted with a basio weakness In our tariff poll 09 whleh Is affectlnr Injuriously tho Whole Industrial Indus-trial fabric of the nation," Mr Schwah said. "Fluctuations In foreign exohanpe , are rdaylnp havoc wlih wages, prices and orders. Because our present tariff 1 laws were framed at a time when for- 1 eipn moneys were normal, the Hre to-' to-' day Inoperative as far as protectlnK la-' la-' bor and Industry or yielding revenue are I concerned "Con area lei irucgiinp to enact a tariff bill whleh will enable ur na people and nation to work for our-I selves, our country and (he world, but no tariff will build a foundation for prosperity, which does not remedy the 1 hole in our present laws which the flue- j tuattons in foreltrn cxrhanjre have torn ; In it "We have American standards in erytblng but our tariff Today, in my opinion, the hour has come when we 1 should put American standards in our. (uriff laws The simple and effe( tlv way of doinp this is bu substJtutlnR American stundardM of value for tho I present archaic standards of foreign values. |