Subject: File No. SR-Amex-2005-072
From: Werner Strohmaier

January 26, 2006

Please approve the silver ETF AS SOON AS POSSIBLE.

It is the only way the small investor can have a position in silver without the burdens of storage or opening a commodity account.

The SUA's objections are entirely self serving. None of their problems should be of concern to the SEC. I am aware of no evidence that the gold ETF dislocated the market when it started trading.

Thank you.