<PAGE> PAGE 1
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<PAGE> PAGE 2
008 D01AA02 SAN MATEO
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008 D04AA02 7777
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<PAGE> PAGE 3
015 D01AA07 BELGIUM
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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
042 A000300 0
042 B000300 0
042 C000300 100
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 349
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.650
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
055 A000300 Y
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 100
062 A000300 Y
062 B000300 9.0
062 C000300 53.5
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
<PAGE> PAGE 20
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 29.7
062 M000300 0.0
062 N000300 3.8
062 O000300 0.0
062 P000300 3.0
062 Q000300 1.0
062 R000300 0.0
063 A000300 47
063 B000300 0.0
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
071 A000300 2790
071 B000300 5330
071 C000300 17754
071 D000300 16
072 A000300 12
072 B000300 5707
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 634
072 G000300 0
072 H000300 0
072 I000300 46
072 J000300 2
072 K000300 0
072 L000300 34
072 M000300 16
072 N000300 32
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 9
072 S000300 3
072 T000300 349
072 U000300 0
072 V000300 0
072 W000300 4
072 X000300 1129
072 Y000300 0
072 Z000300 4578
072AA000300 1337
072BB000300 125
<PAGE> PAGE 21
072CC010300 0
072CC020300 1733
072DD010300 9027
072DD020300 0
072EE000300 0
073 A010300 1.6800
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 123430
074 D000300 10372
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 2896
074 M000300 19
074 N000300 136717
074 O000300 0
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 4628
074 S000300 0
074 T000300 132089
074 U010300 10090
074 U020300 0
074 V010300 13.09
074 V020300 0.00
074 W000300 0.0000
074 X000300 10394
074 Y000300 0
075 A000300 0
075 B000300 97802
076 000300 0.00
080 A000300 ICI MUTUAL INSURANCE COMPANY
080 B000300 NONE
080 C000300 130000
081 A000300 Y
081 B000300 185
082 A000300 N
082 B000300 0
083 A000300 N
083 B000300 0
<PAGE> PAGE 22
084 A000300 N
084 B000300 0
085 A000300 Y
085 B000300 N
024 000400 N
028 A010400 114
028 A020400 39
028 A030400 0
028 A040400 315
028 B010400 49
028 B020400 39
028 B030400 0
028 B040400 292
028 C010400 158
028 C020400 38
028 C030400 0
028 C040400 449
028 D010400 179
028 D020400 37
028 D030400 0
028 D040400 892
028 E010400 41
028 E020400 35
028 E030400 0
028 E040400 215
028 F010400 96
028 F020400 35
028 F030400 0
028 F040400 378
028 G010400 637
028 G020400 223
028 G030400 0
028 G040400 2541
028 H000400 366
029 000400 Y
030 A000400 24
030 B000400 3.00
030 C000400 0.00
031 A000400 3
031 B000400 0
032 000400 21
033 000400 0
042 A000400 0
042 B000400 0
042 C000400 100
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 35
<PAGE> PAGE 23
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.650
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 100
062 A000400 Y
062 B000400 25.9
062 C000400 16.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 51.2
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
<PAGE> PAGE 24
062 P000400 0.0
062 Q000400 6.9
062 R000400 0.0
063 A000400 87
063 B000400 0.0
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 Y
069 000400 N
071 A000400 1495
071 B000400 1521
071 C000400 1299
071 D000400 130
072 A000400 12
072 B000400 869
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 83
072 G000400 0
072 H000400 0
072 I000400 9
072 J000400 1
072 K000400 0
072 L000400 0
072 M000400 12
072 N000400 2
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 15
072 S000400 2
072 T000400 35
072 U000400 0
072 V000400 26
072 W000400 1
072 X000400 184
072 Y000400 25
072 Z000400 709
072AA000400 621
072BB000400 31
072CC010400 0
072CC020400 321
072DD010400 1148
072DD020400 0
072EE000400 0
073 A010400 0.9900
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
<PAGE> PAGE 25
074 A000400 4
074 B000400 0
074 C000400 9828
074 D000400 729
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 700
074 K000400 0
074 L000400 108
074 M000400 36
074 N000400 11405
074 O000400 418
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 85
074 S000400 0
074 T000400 10902
074 U010400 943
074 U020400 0
074 V010400 11.56
074 V020400 0.00
074 W000400 0.0000
074 X000400 2280
074 Y000400 0
075 A000400 0
075 B000400 11710
076 000400 0.00
080 A000400 ICI MUTUAL INSURANCE COMPANY
080 B000400 NONE
080 C000400 130000
081 A000400 Y
081 B000400 185
082 A000400 N
082 B000400 0
083 A000400 N
083 B000400 0
084 A000400 N
084 B000400 0
085 A000400 Y
085 B000400 N
SIGNATURE JAMES R BAIO
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUM MARY FINANC IA L IN FORMATION EXTRACTED FROM THE FRANKLIN
TEMPLETON GLOBAL CURRENCY FUN D OCTOB ER "31," 1995 ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERE NCE TO SUCH F INAN CIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 02
<NAME> FRANKLIN TEMEPL ETON GLOBAL C URRE NCY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> OCT-31-1995
<INVESTMENTS-AT-COST> 53784926
<INVESTMENTS-AT-VALUE> 54589761
<RECEIVABLES> 294284
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 5382870
<TOTAL-ASSETS> 60266915
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 325083
<TOTAL-LIABILITIES> 325083
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 57743563
<SHARES-COMMON-STOCK> 4384058
<SHARES-COMMON-PRIOR> 3966828
<ACCUMULATED-NII-CURRENT> 1463213
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> -208434
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 943490
<NET-ASSETS> 59941832
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3668754
<OTHER-INCOME> 0
<EXPENSES-NET> 576838
<NET-INVESTMENT-INCOME> 3091916
<REALIZED-GAINS-CURRENT> 2083056
<APPREC-INCREASE-CURRENT> -2010845
<NET-CHANGE-FROM-OPS> 3164127
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> -5196532
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1387801
<NUMBER-OF-SHARES-REDEEME D> -1293014
<SHARES-REINVESTED> 322443
<NET-CHANGE-IN-ASSETS> 3843934
<ACCUMULATED-NII-PRIOR> 1263410
<ACCUMULATED-GAINS-PRIOR> -19002
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR > 0
<GROSS-ADVISORY-FEES> 379524
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 576838
<AVERAGE-NET-ASSETS> 58485121
<PER-SHARE-NAV-BEGIN> 14.14
<PER-SHARE-NII> 1.29
<PER-SHARE-GAIN-APPREC> -0.49
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> -1.27
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.67
<EXPENSE-RATIO> 0.99
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUM MAR Y FINANCIA L I NFORMATION EX TRACTED FROM THE FRANKLIN
TEMPLETON GERMAN GOVERNME NT BOND FUND OCT "OBER 31, 1995" ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCI AL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 01
<NAME> FRANKLIN TEMPLE TON GERMAN GO VER NMENT BOND FU ND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> OCT-31-1995
<INVESTMENTS-AT-COST> 20597985
<INVESTMENTS-AT-VALUE> 22293094
<RECEIVABLES> 1149506
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 806416
<TOTAL-ASSETS> 24249016
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 135725
<TOTAL-LIABILITIES> 135725
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21708380
<SHARES-COMMON-STOCK> 1685047
<SHARES-COMMON-PRIOR> 998153
<ACCUMULATED-NII-CURRENT> 660762
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42080
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1702069
<NET-ASSETS> 24113291
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1143626
<OTHER-INCOME> 0
<EXPENSES-NET> 222683
<NET-INVESTMENT-INCOME> 920943
<REALIZED-GAINS-CURRENT> 713330
<APPREC-INCREASE-CURRENT> 1059514
<NET-CHANGE-FROM-OPS> 2693787
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> -1355870
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1715926
<NUMBER-OF-SHARES-REDEEME D> -1109204
<SHARES-REINVESTED> 80172
<NET-CHANGE-IN-ASSETS> 10877089
<ACCUMULATED-NII-PRIOR> 56449
<ACCUMULATED-GAINS-PRIOR> 367990
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR > 0
<GROSS-ADVISORY-FEES> 97759
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 229020
<AVERAGE-NET-ASSETS> 17814630
<PER-SHARE-NAV-BEGIN> 13.26
<PER-SHARE-NII> 1.53
<PER-SHARE-GAIN-APPREC> 0.71
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> -1.19
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.31
<EXPENSE-RATIO> 1.25 <F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>THE EXPENSE RATIO FOR TH E FRANKLIN TE MPLETON GERMA N GOVERNMENT BOND FUND
"FOR OCTOBER 31, 1995 WITH" OUT REIMBURSE MEN T EQUALED 1.2 9%.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUM MAR Y FINANC IAL IN FORMATION EXTRACTED FROM THE FRANKLIN
TEMPLETON HARD CURRENCY F UND OCTOBER 31 ", 1" 995 ANNUAL REPORT AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FI NAN CIA L STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 03
<NAME> FRANKLIN TEMPLE TON HARD CU RRE NCY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> OCT-31-1995
<INVESTMENTS-AT-COST> 134399756
<INVESTMENTS-AT-VALUE> 133801760
<RECEIVABLES> 2896255
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 19438
<TOTAL-ASSETS> 136717453
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4628446
<TOTAL-LIABILITIES> 4628446
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 132535169
<SHARES-COMMON-STOCK> 10089744
<SHARES-COMMON-PRIOR> 4389197
<ACCUMULATED-NII-CURRENT> 1248928
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> -884056
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> -811034
<NET-ASSETS> 132089007
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5707034
<OTHER-INCOME> 0
<EXPENSES-NET> 1128859
<NET-INVESTMENT-INCOME> 4578175
<REALIZED-GAINS-CURRENT> 1212480
<APPREC-INCREASE-CURRENT> -1732815
<NET-CHANGE-FROM-OPS> 4057840
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> -9027253
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10970103
<NUMBER-OF-SHARES-REDEEME D> -5816955
<SHARES-REINVESTED> 547399
<NET-CHANGE-IN-ASSETS> 70860508
<ACCUMULATED-NII-PRIOR> -180084
<ACCUMULATED-GAINS-PRIOR> 4385109
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR > 0
<GROSS-ADVISORY-FEES> 634188
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1128859
<AVERAGE-NET-ASSETS> 97801784
<PER-SHARE-NAV-BEGIN> 13.95
<PER-SHARE-NII> 1.84
<PER-SHARE-GAIN-APPREC> -1.02
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> -1.68
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.09
<EXPENSE-RATIO> 1.15
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMAR Y FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN TEMPLETON HIGH INCO ME CURRENCY "FUND OCTOBER 31, 1995 ANNUAL REPORT AND"
IS QUALIFIED IN ITS ENTIRETY BY REFEREN CE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 04
<NAME> FRANKLIN TEMPLETON HIGH INCOM E CURRENCY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> OCT-31-1995
<INVESTMENTS-AT-COST> 10543326
<INVESTMENTS-AT-VALUE> 10557255
<RECEIVABLES> 807129
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 41084
<TOTAL-ASSETS> 11405468
<PAYABLE-FOR-SECURITIES> 418349
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 84933
<TOTAL-LIABILITIES> 503282
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10371961
<SHARES-COMMON-STOCK> 943387
<SHARES-COMMON-PRIOR> 1456305
<ACCUMULATED-NII-CURRENT> 465794
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12939
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 51492
<NET-ASSETS> 10902186
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 868870
<OTHER-INCOME> 0
<EXPENSES-NET> 159498
<NET-INVESTMENT-INCOME> 709372
<REALIZED-GAINS-CURRENT> 590112
<APPREC-INCREASE-CURRENT> -320372
<NET-CHANGE-FROM-OPS> 979112
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> -1147936
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 158620
<NUMBER-OF-SHARES-REDEEMED> -737848
<SHARES-REINVESTED> 66310
<NET-CHANGE-IN-ASSETS> -5976091
<ACCUMULATED-NII-PRIOR> 18961
<ACCUMULATED-GAINS-PRIOR> 308224
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 82819
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 184505
<AVERAGE-NET-ASSETS> 12759806
<PER-SHARE-NAV-BEGIN> 11.59
<PER-SHARE-NII> 1.47
<PER-SHARE-GAIN-APPREC> -0.51
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> -0.99
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.56
<EXPENSE-RATIO> 1.25<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>THE EXPENSE RATIO FOR TH E FRANKLIN TEMPLETON HIGH INCOME CURRENCY FUND FOR
"OCTOBER 31, 1995 WITHOUT REI" MBURSEMENT EQUALLED 1.45%.
</FN>
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Shareholders and Board of Trustees
of Franklin Templeton Global Trust:
In planning and performing our audit of the financial statements and
financial highlights of Global Currency Fund, Hard Currency Fund, High Income
Currency Fund and German Government Bond Fund of Franklin Trust for the year end
ended October 31, 1995 we considered its internal control structure, including
procedures for safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing an opinion on the financial statements
and financial highlights and to comply with the requirements of Form N-SAR, not
to provide assurance on the internal control structure.
The management of Franklin Templeton Global Trust is responsible for
establishing and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements 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 accordance
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 operations may deteriorate.
<PAGE>
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 and
financial highlights 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, 1995.
This report is intended solely for the information and use of
management of Franklin Templeton Global Trust and the Securities and Exchange
Commission.
COOPERS & LYBRAND L.L.P.
Boston, Massachusetts
November 30, 1995
