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<TYPE>COVER
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VIA EDGAR

April 2, 2008

Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549

Attention:        Office of Filings, Information and Consumer Services

         Re:      The Gabelli Equity Trust Inc. (the "Fund")
                  Preliminary Proxy Materials
                  FILE NO.  811-4700

Ladies and Gentleman:

         On behalf of the Fund,  I hereby  transmit  for filing  pursuant to the
requirements  of Rule  14a-6(a)  under the  Securities  Exchange Act of 1934 the
following  preliminary  proxy  materials:   (i)  Notice  of  Annual  Meeting  of
Stockholders; (ii) Proxy Statement and (iii) Form of Proxy Card.

        These  preliminary  proxy  materials  relate to the  annual  meeting  of
stockholders of the Fund to be held on May 19, 2008, at which  stockholders will
be asked to (i) elect three (3) Directors of the Fund, (ii) to consider and vote
upon an amendment to the fundamental investment restriction regarding the Fund's
investment policy on borrowing and (iii) such other matters as may properly come
before said  meeting.  The Fund plans to mail the notice,  proxy  statement  and
proxy card to  stockholders on or about April 14, 2008. The Fund is registered
under the Investment Company Act of 1940, as amended, as a closed-end investment
company.

         Please contact me at (617) 338-4595 with any questions or comments.

                                                          Very truly yours,

                                                          /S/ DAVID JAMES
                                                          -------------------
                                                          David James
                                                          Assistant Secretary

cc:      B. Alpert
         A. Mullady
         C. Austin
         R. DiMartino, Esq. D. Joire, Esq.

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