Subject: File No. SR-Amex-2005-072
From: jefferson wanshel

January 26, 2006

I write this brief note in support of the proposed silver ETF. Some years ago I invested for a time in silver buillion. Gentlemen, have you ever tried hefting silver bars? My back's still bothering me.

Kindly act is such a way as to save future investors sciatic wear and tear.

Those who wish to invest in silver, as opposed to investing in silver-mining companies which may be subtle to evaluate (remember the definition of a gold mine is "a hole in the ground with a liar on top"), and don't wish to expose themselves to the perils of the treacherous futures market, where most participants lose money, will thank you for allowing the product.

As for the Silver Users Association, I find their efforts to place obstacles in the way of a free market disingenuous. This is self-interest masquerading.

Thanks for your time and consideration.