<PAGE> PAGE 1
000 B000000 09/30/94
000 C000000 0000732337
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 PUTNAM U.S. GOVERNMENT INCOME TRUST
001 B000000 811-3897
001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 THE PUTNAM MANAGEMENT COMPANY, INC.
008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
012 A000001 PUTNAM INVESTOR SERVICES, INC.
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 COOPERS & LYBRAND
013 B010001 BOSTON
013 B020001 MA
013 B030001 02109
015 A000001 PUTNAM FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
<PAGE> PAGE 2
015 C030001 02109
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 82
019 C000000 PUTNAMFUND
020 A000001 PAINE WEBBER
020 B000001 13-2697091
020 C000001 3
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 3
022 A000001 MORGAN GUARANTY TRUST CO OF NY
022 B000001 13-5123346
022 C000001 14635590
022 D000001 562156
022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002 4566429
022 D000002 4850570
022 A000003 GOLDMAN SACHS & CO
022 B000003 13-5108880
022 C000003 4874194
022 D000003 1404969
022 A000004 NOMURA SECURITIES
022 B000004 13-2642206
022 C000004 5662111
022 D000004 0
022 A000005 BEAR STERNS & CO
022 B000005 13-4946705
022 C000005 1314124
022 D000005 1775950
022 A000006 SALOMON BROTHERS
022 B000006 13-3082694
022 C000006 1580532
022 D000006 1093608
022 A000007 PAINE WEBBER
022 B000007 13-2638166
022 C000007 1207556
022 D000007 1384830
022 A000008 MERRILL LYNCH
022 B000008 13-5674085
022 C000008 880111
022 D000008 1501653
<PAGE> PAGE 3
022 A000009 MORGAN STANLEY INC
022 B000009 13-2655998
022 C000009 307107
022 D000009 256367
022 A000010 GREENWICH SECURITIES INC
022 B000010 13-2697091
022 C000010 72675
022 D000010 74863
023 C000000 35100429
023 D000000 12965324
024 000000 N
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 Y
026 G020000 Y
026 H000000 N
027 000000 Y
028 A010000 55067
028 A020000 20029
028 A030000 0
028 A040000 75096
028 B010000 40726
028 B020000 19430
028 B030000 0
028 B040000 60156
028 C010000 38969
028 C020000 19041
028 C030000 0
028 C040000 58010
028 D010000 27361
028 D020000 18801
028 D030000 0
028 D040000 46162
028 E010000 40719
028 E020000 18179
028 E030000 0
028 E040000 58898
028 F010000 30080
028 F020000 18194
028 F030000 0
028 F040000 48274
028 G010000 232922
028 G020000 113674
028 G030000 0
028 G040000 346596
028 H000000 232922
029 000000 Y
<PAGE> PAGE 4
030 A000000 1427
030 B000000 4.75
030 C000000 0.00
031 A000000 162
031 B000000 0
032 000000 1265
033 000000 0
034 000000 Y
035 000000 4560
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 30125
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.600
048 B010000 1000000
048 B020000 0.500
048 C010000 1500000
048 C020000 0.450
048 D010000 1500000
048 D020000 0.325
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 1500000
<PAGE> PAGE 5
048 K020000 0.400
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 500
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 6.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 104.6
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 -5.2
063 A000000 0
063 B000000 12.4
064 A000000 Y
<PAGE> PAGE 6
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 12264
071 B000000 14687
071 C000000 5866
071 D000000 209
072 A000000 12
072 B000000 486433
072 C000000 0
072 D000000 0
072 E000000 0
<PAGE> PAGE 7
072 F000000 25318
072 G000000 74
072 H000000 0
072 I000000 6518
072 J000000 1920
072 K000000 1084
072 L000000 487
072 M000000 131
072 N000000 52
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 173
072 S000000 94
072 T000000 30125
072 U000000 0
072 V000000 0
072 W000000 220
072 X000000 66196
072 Y000000 0
072 Z000000 420237
072AA000000 0
072BB000000 356267
072CC010000 0
072CC020000 222925
072DD010000 225599
072DD020000 105399
072EE000000 0
073 A010000 0.7420
073 A020000 0.6650
073 B000000 0.3030
073 C000000 0.2100
074 A000000 680
074 B000000 27248
074 C000000 0
074 D000000 5217141
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 453304
074 K000000 0
074 L000000 60929
074 M000000 0
074 N000000 5759302
074 O000000 405567
074 P000000 10218
074 Q000000 0
074 R010000 0
074 R020000 0
<PAGE> PAGE 8
074 R030000 345997
074 R040000 11868
074 S000000 0
074 T000000 4985652
074 U010000 259828
074 U020000 142150
074 V010000 12.37
074 V020000 12.38
074 W000000 0.0000
074 X000000 244063
074 Y000000 0
075 A000000 0
075 B000000 5963489
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 Q010000 Y
078 000000 N
080 A000000 FEDERAL INSURANCE COMPANY
080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY, INC.
080 C000000 45000
081 A000000 Y
081 B000000 65
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE GORDAN H. SILVER
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM PUTNAM U.S. Government Income Trust Class A AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEPT-30-1994
<PERIOD-END> SEPT-30-1994
<INVESTMENTS-AT-COST> 5,509,306,096
<INVESTMENTS-AT-VALUE> 5,244,389,343
<RECEIVABLES> 514,233,071
<ASSETS-OTHER> 679,789
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,759,302,203
<PAYABLE-FOR-SECURITIES> 405,567,400
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 368,082,796
<TOTAL-LIABILITIES> 773,650,196
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,517,924,358
<SHARES-COMMON-STOCK> 259,828,103
<SHARES-COMMON-PRIOR> 351,884,765
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (270,677,705)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (261,594,646)
<NET-ASSETS> 4,985,652,007
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 486,433,118
<OTHER-INCOME> 0
<EXPENSES-NET> 66,195,666
<NET-INVESTMENT-INCOME> 420,237,452
<REALIZED-GAINS-CURRENT> (356,267,400)
<APPREC-INCREASE-CURRENT> (222,925,105)
<NET-CHANGE-FROM-OPS> (158,955,053)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (225,599,421)
<DISTRIBUTIONS-OF-GAINS>
<DISTRIBUTIONS-OTHER> 64,372,323
<NUMBER-OF-SHARES-SOLD> 27,988,595
<NUMBER-OF-SHARES-REDEEMED> (133,310,840)
<SHARES-REINVESTED> 13,265,583
<NET-CHANGE-IN-ASSETS> (2,044,047,600)
<ACCUMULATED-NII-PRIOR> 14,675,398
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (107,398,666)
<GROSS-ADVISORY-FEES> 25,317,733
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 66,195,666
<AVERAGE-NET-ASSETS> 3,914,638,153
<PER-SHARE-NAV-BEGIN> 13.63
<PER-SHARE-NII> .69
<PER-SHARE-GAIN-APPREC> (1.00)
<PER-SHARE-DIVIDEND> (.74)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (.21)
<PER-SHARE-NAV-END> 12.37
<EXPENSE-RATIO> .85
<AVG-DEBT-OUTSTANDING>
<AVG-DEBT-PER-SHARE>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM PUTNAM U.S. Government Income Trust Class B AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEPT-30-1994
<PERIOD-END> SEPT-30-1994
<INVESTMENTS-AT-COST> 5,509,306,096
<INVESTMENTS-AT-VALUE> 5,244,389,343
<RECEIVABLES> 514,233,071
<ASSETS-OTHER> 679,789
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,759,302,203
<PAYABLE-FOR-SECURITIES> 405,567,400
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 368,082,796
<TOTAL-LIABILITIES> 773,650,196
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,517,924,358
<SHARES-COMMON-STOCK> 142,149,519
<SHARES-COMMON-PRIOR>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (270,677,705)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (261,594,646)
<NET-ASSETS> 4,985,652,007
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 486,433,118
<OTHER-INCOME> 0
<EXPENSES-NET> 66,195,666
<NET-INVESTMENT-INCOME> 420,237,452
<REALIZED-GAINS-CURRENT> (356,267,400)
<APPREC-INCREASE-CURRENT> (222,925,105)
<NET-CHANGE-FROM-OPS> (158,955,053)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (105,397,633)
<DISTRIBUTIONS-OF-GAINS>
<DISTRIBUTIONS-OTHER> 30,074,059
<NUMBER-OF-SHARES-SOLD> 36,373,071
<NUMBER-OF-SHARES-REDEEMED> (65,135,400)
<SHARES-REINVESTED> 6,740,193
<NET-CHANGE-IN-ASSETS> (2,044,047,600)
<ACCUMULATED-NII-PRIOR> 14,675,398
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (107,398,666)
<GROSS-ADVISORY-FEES> 25,317,733
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 66,195,666
<AVERAGE-NET-ASSETS> 2,040,892,367
<PER-SHARE-NAV-BEGIN> 13.60
<PER-SHARE-NII> .64
<PER-SHARE-GAIN-APPREC> (1.05)
<PER-SHARE-DIVIDEND> (.67)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (.19)
<PER-SHARE-NAV-END> 12.33
<EXPENSE-RATIO> 1.60
<AVG-DEBT-OUTSTANDING>
<AVG-DEBT-PER-SHARE>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM PUTNAM U.S. Government Income Trust Class Y AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEPT-30-1994
<PERIOD-END> SEPT-30-1994
<INVESTMENTS-AT-COST> 5,509,306,096
<INVESTMENTS-AT-VALUE> 5,244,389,343
<RECEIVABLES> 514,233,071
<ASSETS-OTHER> 679,789
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,759,302,203
<PAYABLE-FOR-SECURITIES> 405,567,400
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 368,082,796
<TOTAL-LIABILITIES> 773,650,196
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,517,924,358
<SHARES-COMMON-STOCK> 1,562,034
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (270,677,705)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (261,594,646)
<NET-ASSETS> 4,985,652,007
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 486,433,118
<OTHER-INCOME> 0
<EXPENSES-NET> 66,195,666
<NET-INVESTMENT-INCOME> 420,237,452
<REALIZED-GAINS-CURRENT> (356,267,400)
<APPREC-INCREASE-CURRENT> (222,925,105)
<NET-CHANGE-FROM-OPS> (158,955,053)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (192,090)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 54,811
<NUMBER-OF-SHARES-SOLD> 1,645,385
<NUMBER-OF-SHARES-REDEEMED> (103,235)
<SHARES-REINVESTED> 19,884
<NET-CHANGE-IN-ASSETS> (2,044,047,600)
<ACCUMULATED-NII-PRIOR> 14,675,398
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (107,398,666)
<GROSS-ADVISORY-FEES> 25,317,733
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 66,195,666
<AVERAGE-NET-ASSETS> 7,958,541
<PER-SHARE-NAV-BEGIN> 12.68
<PER-SHARE-NII> .39
<PER-SHARE-GAIN-APPREC> (.30)
<PER-SHARE-DIVIDEND> (.30)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (.09)
<PER-SHARE-NAV-END> 12.38
<EXPENSE-RATIO> .29
<AVG-DEBT-OUTSTANDING>
<AVG-DEBT-PER-SHARE>
</TABLE>