November NTs ds EK. Russ Browning St. ye Louis, “sa dele Se Dear closures el Arms 21,1935. ly Co.e, Mos RE: TARIFF to from Your letter of the 20th together Wr. Rafter is acknowl edred. with en- I the reason see no need of csbline VYsl for geecordine to my understending of Vr. Refter's letter, no different from the umierstandine Yal hed before : he sailed. You will remember thst Val was very positive in his statement thet tariff must be based on cost or foreign wholessle price, whichever is hiehest. Mr. Rafter's letter seems to bear this out. He states: “ The suns referred to when imported vaiue, i.e. will be the price entered st which sale in 3eleium irrespective for them - whether ©24,.80 or by you st their foreign they are freely offered of the [2¢.80 price which you less & rebate”. other words, sccording to my understanding of it will be sll right for us to accept rebates on the forelien but nothine wholeséle price, Tne information will probably Thankine iF #%, 3 4 F, come is which is beine airmeiled of you, * a 4 sincerely, it. may in for pay this letter, if we psy himner. to Val,