Subject: File No. SR-Amex-2005-072
From: George Dorsett

February 10, 2006

A silver ETF is necessary to establish a realistic price for this dwinding resource. As things stand now, there is a continuing annual shortfall of mined silver vs. silver consumed for industrial use and jewelry mfg.

As you know, silver is now mined as a byproduct by copper and zinc miners. Market prices for silver are just too low to justify the investment for silver mining per se. Before silver supplies reach a critical stage, a silver ETF would enable miners to get a market price which would justify the investment in new silver mines, which would employ many workers, thereby helping our economy.

Thank you for this opportunity to be heard.
George Dorsett