Subject: File No. SR-Amex-2005-072
From: Donald Alexander
Affiliation: none

January 26, 2006

Dear SEC Staff,

The proposal for establishment of, and trading in the iShares Silver Trust has my whole-hearted support, provided the trustee's reporting and auditing methods will reflect good business practices. As long as the physical holdings of the trust can be accurately verified, this kind of investment will provide a useful and accessible vehicle for investors wishing to participate in the silver market. Investors will be better able to diversify their portfolios, and the added liquidity will make it more difficult for price manipulation to occur in a market that too often trades in erratic and volatile price moves. Unless there are overriding concerns about the accounting transparency of the trustee, please DO approve the trading of iShares Silver Trust.

Thank you for your consideration,
Don Alexander, Charlotte, NC