Subject: File No. SR-Amex-2005-072
From: Eric D. Treider
Affiliation: Miner

February 5, 2006


I hope that you will allow Ishares to offer a silver ETF. The market should determine the price of commodities, not a special interest group like the Silver Users' Association. Of course, the price of silver will probably increase, but the amount of silver used in most products is negligible and these minor increases can easily be handled by the products' consumers. And think of the number of jobs in the mining industry that this ETF will stimulate -- miners have fallen on hard times over the last decade or so...

I hope that you will do what's right and allow the American public to invest in this precious metal. Please don't bend under the pressure that is being exerted upon you by the SUA. When all is said and done and the ETF is approved, they'll still be making all the products they've made in the past.

Stand tall before those fancy-pants lobbyists.

Respectfully yours,

Eric Treider