Subject: File No. SR-Amex-2005-072
From: james d papsdorf, PhD
Affiliation: Licensed Psychologist

January 29, 2006

I strongly support the establishment of the silver ETF. We all know that the Silver Users Association have been working for years to keep the price of this important metal very low. At the age of 67 I hold a number of silver mining shares and feel that my retirement should not be manipulated. A silver ETf will add greater visibility to the true supply/demand situation which I am willing to live with. But the brazen manipulation to suppress the true status of this metal must end. As a life long Republican, I want to see a silver ETF.