Subject: File No. SR-Amex-2005-072
From: Richard G Mellert
Affiliation: Chemical Engineer

January 29, 2006

I can not see any difference between Silver and any of the other base metal commodities, so I feel strongly that the Silver ETF should be allowed to go forward. Natural market forces will ultimately balance any price/supply issues that may arise.

Richard G. Mellert
1/30/2006