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:

U.S. Treasury Portfolio


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:  October 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: 1,386,306,727


Aggregate Price:        1,386,306,727


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: 2,075,734,993


Aggregate Price:        2,075,734,993





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: 2,075,734,993


Aggregate Price:        2,075,734,993


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):      2,075,734,993
    

(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):        (2,075,734,993)
	

(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):    0
	

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

Instruction C.6): 1/3300
      

(vii)
Fee due [line (i) or line (v) muliplied by line (vi)]:      0
    

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:

December 18, 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        December 20, 1996



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






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:

Money Market Portfolio


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:   October 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: 3,242,570,364


Aggregate Price:        3,242,570,364





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: 3,242,570,364


Aggregate Price:        3,242,570,364


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):      3,242,570,364
    

(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):        (3,159,725,660)
	

(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):    82,844,704
	

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

Instruction C.6): 1/3300
      

(vii)
Fee due [line (i) or line (v) muliplied by line (vi)]:      25,104.46
    

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:

December 18, 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       December 20, 1996



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

EX-99

December 18, 1996




Mr. John Costello, Assistant Treasurer
Daily Money Fund (the Trust)
U.S. Treasury Portfolio and 
Money Market Portfolio (the funds)
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 December 
12, 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 Shareholder's 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 5,318,305,357 shares of the 
Trust (the "Shares") sold in reliance upon Rule 24f-2 during the fiscal 
year ended October 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




December 12, 1996




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 (formerly 
named Daily Money Fund II), 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 certification of good standing of the Trust 
obtained as of a recent date from the Recording Office.  In such examina-
tions, 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 Instrument, 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 registration 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