24F-2NT

SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

"Rule 24f-2 Notice"

Daily Money Fund


(Name of Registrant)

File No. 2-77909






U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549


FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2


Read instructions at end of Form Before preparing Form.
Please print or type.

1.  
Name and address of issuer:   Daily Money Fund


82 Devonshire Street, Boston, MA, 02109


2.  
Name of each series or class of funds for which this notice is filed:

Treasury Only


3.  
Investment Company Act File Number:   811-3480


	Securities Act File Number:   2-77909


4.  
Last day of fiscal year for which this notice is filed:   March 31, 1996


5.  
Check box if this notice is being filed more than 180 days after 
the close of the issuer's fiscal year for purposes of reporting securities 
sold after the close of the fiscal year but before termination of 
the issuer's 24f-2 declaration:

[ ]

6.  
Date of termination of issuer's declaration under rule 24f-2(a)(1), 
if applicable (see Instruction A.6):

7.  
Number and amount of securities of the same class or series which 
had been registered under the Securites Act of 1933 other than pursuant 
to rule 24f-2 in a prior fiscal year, but which remained unsold at 
the beginning of the fiscal year:

Number of Shares: 0


Aggregate Price:        0


8.  
Number and amount of securities registered during the fiscal year 
other than pursuant to rule 24f-2:

Number of Shares: 0


Aggregate Price:        0


9.  
Number and aggregate sale price of securities sold during the fiscal 
year:

Number of Shares: 5,004,118,520


Aggregate Price:        5,004,118,520





10.   
Number and aggregate sale price of securities sold during the fiscal 
year in reliance upon registration pursuant to rule 24f-2:

Number of Shares: 5,004,118,520


Aggregate Price:        5,004,118,520


11.   
Number and aggregate sale price of securities issued during the fiscal 
year in connection with dividend reinvestment plans, if applicable 
(see Instruction B.7):

12.   
Calculation of registration fee:

(i)   
Aggregate sale price of securities sold during the fiscal 

year in reliance on rule 24f-2 (from Item 10):      5,004,118,520
    

(ii)    
Aggregate price of shares issued in connection with 

dividend reinvestment plans (from Item 11, if applicable):  0
	    

(iii)     
Aggregate price of shares redeemed or repurchased during 

the fiscal year (if applicable):        (4,905,039,294)
	

(iv)    
Aggregate price of shares redeemed or repurchased and previously 
applied as a reduction to filing fees pursuant to 

rule 24e-2 (if applicable):   0
	  

(v)   
Net aggregate price of securities sold and issued during the fiscal 
year in reliance on rule 24f-2 [line (i), plus 

line (ii), less line (iii), plus line (iv)] (if applicable):    99,079,226
	

(vi)    
Multiplier prescribed by Section 6(b) of the Securities Act of 1933 
or other applicable law or regulation (see 

Instruction C.6): 1/2900
      

(vii)
Fee due [line (i) or line (v) muliplied by line (vi)]:      34,165.25
    

Instruction:   Issuers should complete lines (ii), (iii), (iv), and 
(v) only if the form is being filed within 60 

days after the close of the issuer's fiscal year. See Instruction 
C.3.

13.   
Check box if fees are being remitted to the Commission's lockbox 
depository as described in section 3a of the Commission's Rules of 
Informal and Other Procedures (17 CFR 202.3a).

[n]

Date of mailing or wire transfer of filing fees to the Commission's 
lockbox depository:

May 17, 1996


SIGNATURES

This report has been signed below by the following persons on behalf 
of the issuer and in the capacities and on the dates indicated.

By (Signature and Title)*     John H. Costello
	  

	Assistant Treasurer
	

Date        May 24, 1996



* Please print the name and title of the signing officer below the 
signature.

EX-99

May 17, 1996




Mr. John Costello, Assistant Treasurer
Daily Money Fund (the Trust)
Treasury Only (the fund)
82 Devonshire Street
Boston, Massachusetts  02109

Dear Mr. Costello:

Daily Money Fund is a Delaware business trust created under a 
written Trust Instrument dated June 20, 1991.

I am of the opinion that all legal requirements have been complied 
with in the creation of the Trust and that said Trust is a duly 
authorized and validly existing business trust under the laws of the 
State of Delaware.  In this regard, I have relied on the opinion of 
Delaware counsel, Morris, Nichols, Arsht & Tunnell, contained in a 
letter dated May 16, 1996 with respect to matters of Delaware law. 

I have conducted such legal and factual inquiry as I have deemed 
necessary for the purpose of rendering this opinion.

Capitalized terms used herein, and not otherwise herein defined, are 
used as defined in the Trust Instrument.

Under Article II, Section 2.01, of the Trust Instrument, the 
beneficial interest in the Trust shall be divided into such transferable 
Shares of one or more separate and distinct Series or classes of a 
Series as the Trustees shall from time to time create and establish.  
The number of Shares of each Series, and class thereof, authorized 
thereunder is unlimited and each Share shall be without par value 
and shall be fully paid and nonassessable.

Under Article II, Section 2.06, the Trust shall consist of one or 
more Series and the Trustees of each Series shall have full power 
and authority, in their sole discretion, and without obtaining any 
prior authorization or vote of the Shareholders of any Series of the 
Trust to establish and designate (and to change in any manner) any 
such Series of Shares with such preferences, voting powers, rights 
and privileges as the Trustees may from time to time determine, to 
divide or combine the Shares into a greater or lesser number, to 
classify or reclassify any issued Shares of any Series, and to take 
such other action with respect to the Shares as the Trustees may 
deem desirable.

Under Article II, Section 2.07, the Trustees are empowered to 
accept investments in the Trust in cash or securities from such 
persons and on such terms as they may from time to time authorize.  
Such investments in the Trust shall be credited to each 
Shareholders account in the form of full Shares at the Net Asset 
Value per Share next determined after the investment is received; 
provided, however, that the Trustees may, in their sole discretion, 
fix the initial Net Asset Value per share of the initial capital 
contribution, impose a sales charge upon investments in the Trust in 
such manner and at such time as determined by the Trustees, or 
issue fractional shares. 

By a vote adopted on June 20, 1991, the Board of Trustees 
authorized the issue and sale, from time to time, of an unlimited 
number of shares of beneficial interest of this Trust in accordance 
with the terms included in the then current Registration Statement 
and subject to the limitations of the Trust Instrument and any 
amendments thereto.

I understand from you that, pursuant to Rule 24f-2 under the 
Investment Company Act of 1940, the Trust has registered an 
indefinite amount of shares of beneficial interest under the 
Securities Act of 1933.  I further understand that, pursuant to the 
provisions of Rule 24f-2, the Trust intends to file with the 
Securities and Exchange Commission a Notice making definite the 
registration of 5,004,118,520 shares of the Trust (the "Shares") 
sold in reliance upon Rule 24f-2 during the fiscal year ended March 
31, 1996.

I am of the opinion that all necessary Trust action precedent to the 
issue of Shares has been duly taken, and that all the Shares were 
legally and validly issued, and are fully paid and nonassessable 
under Delaware law, Subject to the possibility that a court might 
not apply such law as described in the Fund's Statement of 
Additional Information under the heading "Shareholder and Trustee 
Liability."  In rendering this opinion, I rely on the representation by 
the Trust that it or its agents received consideration for the Shares 
in accordance with the Trust Instrument and I express no opinion as 
to compliance with the Securities Act of 1933, the Investment 
Company Act of 1940, or applicable state "Blue Sky" or securities 
laws in connection with sales of the Shares.

I hereby consent to the filing of this opinion with the Securities and 
Exchange Commission in connection with a Rule 24f-2 Notice 
which you are about to file under the 1940 Act with said 
commission. 

Very truly yours, 


/s/ Arthur S. Loring
Arthur S. Loring 
Vice President Legal





Arthur S. Loring, Esquire
General Counsel
Fidelity Management & Research Co.
82 Devonshire Street
Boston, Massachusetts  02109

Re:     Daily Money Fund

Dear Mr. Loring:

We have acted as special Delaware counsel to Daily Money Fund, a 
Delaware business trust (the "Trust"), in connection with certain 
matters relating to the organization of the Trust and the issuance of 
Shares therein.  Capitalized terms used herein and not otherwise herein 
defined are used as defined in the Trust Instrument of the Trust dated 
June 20, 1991 (the "Governing Instrument").

In rendering this opinion, we have examined copies of the following 
documents, each in the form provided to us:  the Certificate of Trust of 
the Trust dated as of June 20, 1991 and filed in the Office of the 
Secretary of State of the State of Delaware (the "Recording Office") on 
July 9, 1991 (the "Certificate"), as amended by a Certificate of 
Amendment thereto filed in the Recording Office on July 18, 1995; the 
Governing Instrument; the Bylaws of the Trust; minutes of a meeting 
of the Board of Trustees of the Trust, dated June 20, 1991; a 
Certificate of Secretary of the Trust, certifying as to the acceptance by 
certain persons of their positions as trustees of the Trust; Post-Effective 
Amendment No. 22 to the Trust's Registration Statement on Form N-
1A as filed with the Commission on September 28, 1993; and a certifi-
cation of good standing of the Trust obtained as of a recent date from 
the Recording Office.  In such examinations, we have assumed the 
genuineness of all signatures, the conformity to original documents of 
all documents submitted to us as copies or drafts of documents to be 
executed, and the legal capacity of natural persons to complete the 
execution of documents.  We have further assumed for the purpose of 
this opinion: (i) the due authorization, execution and delivery by, or on 
behalf of, each of the parties thereto of the above-referenced 
instruments, certificates and other documents, and of all documents 
contemplated by the Governing Instrument and applicable resolutions 
of the Trustees to be executed by investors desiring to become 
Shareholders; (ii) the payment of consideration for Shares, and the 
application of such consideration, as provided in the Governing Instru-
ment, and compliance with the other terms, conditions and restrictions 
set forth in the Governing Instrument and all applicable resolutions of 
the Trustees in connection with the issuance of Shares (including, 
without limitation, the taking of all appropriate action by the Trustees 
to designate Series of Shares and the rights and preferences attributable 
thereto as contemplated by the Governing Instrument); (iii) that 
appropriate notation of the names and addresses of, the number of 
Shares held by, and the consideration paid by, Shareholders will be 
maintained in the appropriate registers and other books and records of 
the Trust in connection with the issuance or transfer of Shares; (iv) that 
no event has occurred subsequent to the filing of the Certificate that 
would cause a termination or dissolution of the Trust under Section 
11.04 or Section 11.05 of the Governing Instrument; (v) that the 
activities of the Trust have been and will be conducted in accordance 
with the terms of the Governing Instrument and the Delaware Act; and 
(vi) that each of the documents examined by us is in full force and 
effect and has not been modified, supplemented or otherwise amended.  
No opinion is expressed herein with respect to the requirements of, or 
compliance with, federal or state securities or blue sky laws.  Further, 
we express no opinion on the sufficiency or accuracy of any registra-
tion or offering documentation relating to the Trust or the Shares.  As 
to any facts material to our opinion, other than those assumed, we have 
relied without independent investigation on the above-referenced 
documents and on the accuracy, as of the date hereof, of the matters 
therein contained.

Based on and subject to the foregoing, and limited in all respects to 
matters of Delaware law, it is our opinion that:

1.      The Trust is a duly organized and validly existing business trust 
in good standing under the laws of the State of Delaware.

2.      The Shares, when issued to Shareholders in accordance with 
the terms, conditions, requirements and procedures set forth in the 
Governing Instrument, will constitute legally issued, fully paid and non-
assessable Shares of beneficial interest in the Trust.

3.      Under the Delaware Act and the terms of the Governing 
Instrument, each Shareholder of the Trust, in such capacity, will be 
entitled to the same limitation of personal liability as that extended to 
stockholders of private corporations for profit organized under the 
general corporation law of the State of Delaware; provided, however, 
that we express no opinion with respect to the liability of any 
Shareholder who is, was or may become a named Trustee of the Trust.  
Neither the existence nor exercise of the voting rights granted to 
Shareholders under the Governing Instrument will, of itself, cause a 
Shareholder to be deemed a trustee of the Trust under the Delaware 
Act.



We understand that you wish to rely as to matters of Delaware law on 
the opinion set forth above in connection with the rendering by you of 
an opinion to be used as an Exhibit to a Rule 24f-2 filing to be made by 
the Trust with the Commission, and we hereby consent to such 
reliance.  Except as provided in the foregoing sentence, the opinion set 
forth above is expressed solely for the benefit of the addressee hereof 
and may not be relied upon by any other person or entity for any 
purpose without our prior written consent.


Sincerely,

MORRIS, NICHOLS, ARSHT & TUNNELL