EX-99.CERT 11(a)(1)


                               REICH & TANG FUNDS
                   CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND
                            SENIOR FINANCIAL OFFICERS

I.       Covered Officers/Purpose of the Code

         This code of ethics (the "Code") applies to the Principal Executive
Officer and Principal Financial Officer (the "Covered Officers," each of whom
are set forth in Exhibit A) of the Reich & Tang Funds listed in Exhibit B (each
a "Fund" and collectively, the "Funds") for the purpose of promoting:

        o       honest and ethical conduct, including the ethical handling of
                actual or apparent conflicts of interest between personal and
                professional relationships;

        o       full, fair, accurate, timely and understandable disclosure in
                reports and documents that a registrant files with, or submits
                to, the Securities and Exchange Commission ("SEC") and in other
                public communications made by the Funds;

        o       compliance with applicable laws and governmental rules and
                regulations;

        o       the prompt internal reporting of violations of the Code to an
                appropriate person or persons identified in the Code; and

        o       accountability for adherence to the Code.

         Each Covered Officer should adhere to a high standard of business
ethics and should be sensitive to situations that may give rise to actual as
well as apparent conflicts of interest.

II.      Covered Officers Should Handle Ethically Actual and Apparent Conflicts
         of Interest

         Overview. A "conflict of interest" occurs when a Covered Officer's
private interest interferes with the interests of, or his service to, a Fund.
For example, a conflict of interest would arise if a Covered Officer, or a
member of his family, receives improper personal benefits as a result of his
position with the Fund.

         Certain conflicts of interest arise out of the relationships between
Covered Officers and the Funds and already are subject to conflict of interest
provisions in the Investment Company Act of 1940 ("Investment Company Act") and
the Investment Advisers Act of 1940 ("Investment Advisers Act"). For example,
Covered Officers may not individually engage in certain transactions (such as
the purchase or sale of securities or other property) with the Funds because of
their status as "affiliated persons" of the Funds. The Funds' and the investment
adviser's compliance programs and procedures are designed to prevent, or
identify and correct, violations of these provisions. This Code does not, and is
not intended to, repeat or replace these programs and procedures, and such
conflicts fall outside of the parameters of this Code.

         Although typically not presenting an opportunity for improper personal
benefit, conflicts arise from, or as a result of, the contractual relationship
between the Funds and the investment

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adviser, of which the Covered Officers are also officers or employees. As a
result, this Code recognizes that the Covered Officers will, in the normal
course of their duties (whether formally for the Funds or for the adviser, or
for both), be involved in establishing policies and implementing decisions that
will have different effects on the adviser and the Funds. The participation of
the Covered Officers in such activities is inherent in the contractual
relationship between the Funds and the adviser and is consistent with the
performance by the Covered Officers of their duties as officers of the Funds.
Thus, if performed in conformity with the provisions of the Investment Company
Act and the Investment Advisers Act, such activities will be deemed to have been
handled ethically. In addition, it is recognized by the Funds' Boards of
Directors/Trustees (the "Boards") that the Covered Officers may also be officers
of one or more other investment companies covered by this or other codes.

         Other conflicts of interest are covered by the Code, even if such
conflicts of interest are not subject to provisions in the Investment Company
Act and the Investment Advisers Act. The following list provides examples of
conflicts of interest under the Code, but Covered Officers should keep in mind
that these examples are not exhaustive. The overarching principle is that the
personal interest of a Covered Officer should not be placed improperly before
the interest of a Fund.

                                     * * * *

              Each Covered Officer must:

        o       not use his personal influence or personal relationships
                improperly to influence investment decisions or financial
                reporting by the Fund whereby the Covered Officer would benefit
                personally to the detriment of the Fund;

        o       not cause the Fund to take action, or fail to take action, for
                the individual personal benefit of the Covered Officer rather
                than the benefit of the Fund; and

        o       not use material non-public knowledge of portfolio transactions
                made or contemplated for the Fund to trade personally or cause
                others to trade personally in contemplation of the market effect
                of such transactions.

         There are some potential conflict of interest situations that should be
discussed with Fund counsel in order to determine whether these situations pose
a material risk of causing detriment to the Funds. Examples of these include:

        o       service as a director on the board of any public or private
                company;

        o       the receipt of any non-nominal gifts from any company with which
                a Fund has current or prospective business dealings, to the
                extent the situation is not addressed by a Fund's 17j-1 Code of
                Ethics or the investment adviser's Code of Ethics;

        o       the receipt of any entertainment from any company with which a
                Fund has current or prospective business dealings unless such
                entertainment is business-related, reasonable in cost,
                appropriate as to time and place, and not so frequent as to
                raise
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                any question of impropriety, to the extent the situation is not
                addressed by a Fund's 17j-1 Code of Ethics or the investment
                adviser's Code of Ethics;

        o       any ownership interest in, or any consulting or employment
                relationship with, any of the Funds' service providers, other
                than its investment adviser, principal underwriter,
                administrator or any affiliated person thereof; and

        o       a direct or indirect financial interest in commissions,
                transaction charges or spreads paid by the Funds for effecting
                portfolio transactions or for selling or redeeming shares other
                than an interest arising from the Covered Officer's employment,
                such as compensation or equity ownership.

III.     Disclosure and Compliance

        o       Each Covered Officer should familiarize himself with the
                disclosure requirements generally applicable to the Funds;

        o       each Covered Officer should not knowingly misrepresent, or cause
                others to misrepresent, facts about the Funds to others, whether
                within or outside the Funds, including to the Fund's directors
                and auditors, and to governmental regulators and self-regulatory
                organizations;

        o       each Covered Officer should, to the extent appropriate within
                his area of responsibility, consult with other officers and
                employees of the Funds and the adviser with the goal of
                promoting full, fair, accurate, timely and understandable
                disclosure in the reports and documents the Funds file with, or
                submit to, the SEC and in other public communications made by
                the Funds;

        o       each Covered Officer should comply with his or her obligations
                under the Funds' Disclosure Controls and Procedures and
                certification requirements relating to the reports on Form N-CSR
                (certified shareholder reports) and on Form N-Q (quarterly
                schedule of portfolio holdings) that the Funds are required to
                file; and

        o       it is the responsibility of each Covered Officer to promote
                compliance with the standards and restrictions imposed by
                applicable laws, rules and regulations.

IV.      Reporting and Accountability

              Each Covered Officer must:

        o       upon adoption of the Code (or thereafter as applicable, upon
                becoming a Covered Officer), affirm in writing to the Board that
                he has received, read, and understands the Code;

        o       annually thereafter affirm to the Board that he has complied
                with the requirements of the Code;
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        o       not retaliate against any other Covered Officer or any employee
                of the Funds or their affiliated persons for reports of
                potential violations that are made in good faith; and

        o       notify the Audit Committee promptly if he knows of any violation
                of this Code. Failure to do so is itself a violation of this
                Code.

         Fund counsel is responsible for applying this Code to specific
situations in which questions are presented under it and has the authority to
interpret this Code in any particular situation. Any approvals or waivers(1)
sought by the Covered Officers must be considered Fund counsel.

         The Funds will follow these procedures in investigating and enforcing
this Code:

        o       Fund counsel will take all appropriate action to investigate any
                potential violations reported to it;

        o       if, after such investigation, Fund counsel believes that no
                violation has occurred, Fund counsel is not required to take any
                further action;

        o       if Fund counsel determines that a violation has occurred it will
                inform and make a recommendation to the full Board, which will
                consider appropriate action, which may include (i) review of,
                and appropriate modifications to, applicable policies and
                procedures; (ii) notification to appropriate personnel of the
                investment adviser or its board; or (iii) a recommendation to
                dismiss the Covered Officer;

        o       Fund counsel will be responsible for granting waivers, as
                appropriate; and

        o       any changes to or waivers of this Code will, to the extent
                required, be disclosed as provided by SEC rules.

V.       Other Policies and Procedures

         This Code shall be the sole code of ethics adopted by the Funds for
purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms
applicable to registered investment companies thereunder. Insofar as other
policies or procedures of the Funds, the Funds' adviser, principal underwriter,
or other service providers govern or purport to govern the behavior or
activities of the Covered Officers who are subject to this Code, they are
superseded by this Code to the extent that they overlap or conflict with the
provisions of this Code. The Funds' and their investment adviser's and principal
underwriter's codes of ethics under Rule 17j-l under the Investment Company Act,
and any other codes of conduct applicable to such entities, are separate
requirements applying to the Covered Officers and others, and are not part of
this Code.

_______________________________

(1)      Item 2 of Form N-CSR defines "waiver" as "the approval by the
         registrant of a material departure from a provision of the code of
         ethics" and "implicit waiver," which must also be disclosed, as "the
         registrant's failure to take action within a reasonable period of time
         regarding a material departure from a provision of the code of ethics
         that has been made known to an executive officer" of the registrant.

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VI.      Amendments

         Any amendments to this Code, other than amendments to Exhibits A or B,
must be approved or ratified by a majority vote of the Boards.

VII.     Confidentiality

         All reports and records prepared or maintained pursuant to this Code
will be considered confidential and shall be maintained and protected
accordingly. Except as otherwise required by law or this Code, such matters
shall not be disclosed to anyone other than Fund counsel and the Board of
Directors (and its counsel) of a Fund where such reports or records pertain to a
Covered Officer of such Fund.

VIII.    Internal Use

         The Code is intended solely for the internal use by the Funds and does
not constitute an admission, by or on behalf of any Fund, as to any fact,
circumstance, or legal conclusion.

Adopted:  July 31, 2003, as amended July 22, 2004, October 19, 2006 and December
6, 2007.

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                                    Exhibit A

                     Persons Covered by this Code of Ethics

Michael P. Lydon
Principal Executive Officer (all funds except Pax World Money Market Fund, Inc.)

Joseph Keefe
Principal Executive Officer (Pax World Money Market Fund, Inc. only)

Anthony Pace
Principal Financial Officer


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                                    Exhibit B

California Daily Tax Free Income Fund, Inc.
Connecticut Daily Tax Free Income Fund, Inc.
Daily Income Fund
Delafield Fund, Inc.
Florida Daily Municipal Income Fund
New Jersey Daily Municipal Income Fund, Inc.
Pax World Money Market Fund, Inc.