Replacing Form Values By Looping Through Elements

I am trying to use "replace" to remove dollar signs and commas from input values by looping through the elements. I'm pretty sure I have to use an array in an array to do so but can't figure it out. Here's what I have:

Code:
function removeStuff(){
for(j=0; j<document.form1.elements.length; j++) {
remove = new Array("$", ",");
for(i=0; i<remove.length; i++) {
newValue = document.form1.elements[j].value.replace(remove[i],"");
}}
alert(newValue);
}