VIA EDGAR

April 18, 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:

Pursuant to Rule  14a-6(b) of the  Securities  Act of 1934,  as amended,  please
accept for filing on behalf of the Fund, the definitive proxy  materials,  which
include a Notice of Meeting, the Proxy Statement and Form of Proxy in connection
with the Fund's Annual Meeting of  Shareholders  to be held on May 19, 2008. The
Registrant  will file under separate  correspondence  a written  response to the
Staff's comments on the Registrant's  preliminary  proxy,  filed with the SEC on
April 2, 2008.

The  proposals  to be  considered  by  Shareholders  at the May 19,  2008 Annual
Meeting  are: (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.

Should  members  of the  Commission's  staff  have  any  questions  or  comments
concerning this filing, they should contact David James at (617) 338-4595.

                                                    Very truly yours,

                                                    /s/ David James
                                                    -----------------------
                                                    David James
                                                    Assistant Secretary

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