<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE FRANKLIN FEDERAL MONEY FUND JUNE 30, 2000 ANNUAL
REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> FRANKLIN FEDERAL MONEY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 165,510,060
<INVESTMENTS-AT-VALUE> 165,510,060
<RECEIVABLES> 751,721
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 166,261,781
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 18,324,016
<TOTAL-LIABILITIES> 18,324,016
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 147,937,765
<SHARES-COMMON-STOCK> 147,937,765
<SHARES-COMMON-PRIOR> 144,386,839
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 147,937,765
<DIVIDEND-INCOME> 9,180,632
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (1,051,065)
<NET-INVESTMENT-INCOME> 8,129,567
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 8,129,567
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,129,567)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,567,655,230
<NUMBER-OF-SHARES-REDEEMED> (1,572,124,060)
<SHARES-REINVESTED> 8,019,756
<NET-CHANGE-IN-ASSETS> 3,550,926
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (692,650)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,051,065)
<AVERAGE-NET-ASSETS> 171,401,957
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> .048
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> (.048)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> .760<F1>
<FN>
<F1>THE EXPENSE RATIO INCLUDES THE FUND'S SHARE OF THE
PORTFOLIO'S ALLOCATED EXPENSES.
</FN>
</TABLE>
