<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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057 000400 N
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066 E000400 N
066 F000400 N
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067 000400 N
068 A000400 N
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069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
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070 C020400 N
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<PAGE> PAGE 22
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070 F020400 N
070 G010400 Y
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070 H010400 Y
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070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
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070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
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<PAGE> PAGE 23
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<PAGE> PAGE 24
015 A000501 STATE STREET BANK & TRUST CO.
015 B000501 C
015 C010501 NORTH QUINCY
015 C020501 MA
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015 E010501 X
024 000500 N
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<PAGE> PAGE 25
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051 000500 N
052 000500 N
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054 A000500 Y
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054 D000500 N
054 E000500 N
054 F000500 N
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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SIGNATURE KIERAN LYONS
TITLE VICE PRESIDENT
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</TABLE>
The Board of Trustees
The Tocqueville Trust
In planning and performing our audit of the financial statements
of The Tocqueville Fund, The Tocqueville Small Cap Value Fund,
The Tocqueville Asia-Pacific Fund, The Tocqueville Europe Fund,
and The Tocqueville Government Fund series of The Tocqueville
Trust for the year ended October 31, 1996, we considered its
internal control structure, including procedures for
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on the internal control
structure.
The management of The Tocqueville Trust is responsible for
establishing and maintaining an internal control structure. In
fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of internal control structure policies and
procedures. Two of the objectives of an internal control
structure are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition and that transactions are
executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements
in conformity with generally accepted accounting principles.
Because of inherent limitations in any internal control
structure, errors or irregularities may occur and not be
detected. Also, projection of any evaluation of the structure
to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of the internal control structure would not
necessarily disclose all matters in the internal control
structure that might be material weaknesses under standards
established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which the
design or operation of the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities in amounts that would be material in
relation to the financial statements being audited may occur and
not be detected within a timely period by employees in the
normal course of performing their assigned functions. However,
we noted no matters involving the internal control structure,
including procedures for safeguarding securities, that we
consider to be material weaknesses as defined above as of
October 31, 1996.
This report is intended solely for the information and use of
management and the Securities and Exchange Commission.
McGladrey & Pullen, LLP
New York, New York
December 13, 1996
