<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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080 A000200 ICI MUTUAL INSURANCE COMPANY
<PAGE> PAGE 20
080 C000200 130000
081 A000200 Y
081 B000200 161
082 A000200 Y
082 B000200 100
083 A000200 N
083 B000200 0
084 A000200 N
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085 B000200 N
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072 Y003300 0
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SIGNATURE JAMES R. BAIO
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON INCOME FUND ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> TEMPLETON INCOME FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1994
<PERIOD-END> AUG-31-1994
<INVESTMENTS-AT-COST> 221844433
<INVESTMENTS-AT-VALUE> 202263559
<RECEIVABLES> 9558015
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1222833
<TOTAL-ASSETS> 213044407
<PAYABLE-FOR-SECURITIES> 5758386
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1803527
<TOTAL-LIABILITIES> 7561913
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 227447437
<SHARES-COMMON-STOCK> 22716077
<SHARES-COMMON-PRIOR> 20759764
<ACCUMULATED-NII-CURRENT> 4451<F1>
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2972949)<F1>
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (18996445)
<NET-ASSETS> 205482494
<DIVIDEND-INCOME> 454240
<INTEREST-INCOME> 17690059
<OTHER-INCOME> 0
<EXPENSES-NET> 2470285
<NET-INVESTMENT-INCOME> 15674014
<REALIZED-GAINS-CURRENT> (9687143)
<APPREC-INCREASE-CURRENT> (10250363)
<NET-CHANGE-FROM-OPS> (4263492)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11711485)
<DISTRIBUTIONS-OF-GAINS> (1432822)
<DISTRIBUTIONS-OTHER> (2602410)<F2>
<NUMBER-OF-SHARES-SOLD> 8882250
<NUMBER-OF-SHARES-REDEEMED> (8055682)
<SHARES-REINVESTED> 1129745
<NET-CHANGE-IN-ASSETS> (1184400)
<ACCUMULATED-NII-PRIOR> 1215232
<ACCUMULATED-GAINS-PRIOR> 2973706
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1040324
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2470285
<AVERAGE-NET-ASSETS> 208960914
<PER-SHARE-NAV-BEGIN> 9.96
<PER-SHARE-NII> 0.72
<PER-SHARE-GAIN-APPREC> (0.91)
<PER-SHARE-DIVIDEND> (0.53)
<PER-SHARE-DISTRIBUTIONS> (0.07)
<RETURNS-OF-CAPITAL> (0.12)
<PER-SHARE-NAV-END> 9.05
<EXPENSE-RATIO> 1<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>As a result of differing book and tax treatment for foreign currency
transactions, $5,173,310 has been reclassified from undistributed net
investment income to accumulated net realized gain(loss) as of August 31, 1994.
<F2>Tax basis return of capital.
<F3>The expense ratio per the Templeton Income Fund Annual Report
August 31, 1994 is 1.18%
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON MONEY FUND AUGUST 31, 1994 ANNUAL REPORT AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> TEMPLETON MONEY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1994
<PERIOD-END> AUG-31-1994
<INVESTMENTS-AT-COST> 145227117
<INVESTMENTS-AT-VALUE> 145227117
<RECEIVABLES> 1241332
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 230571
<TOTAL-ASSETS> 146699020
<PAYABLE-FOR-SECURITIES> 2074391
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 209728
<TOTAL-LIABILITIES> 2284119
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 144414901
<SHARES-COMMON-STOCK> 144414901
<SHARES-COMMON-PRIOR> 81874348
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 144414901
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5111898
<OTHER-INCOME> 0
<EXPENSES-NET> 1257563
<NET-INVESTMENT-INCOME> 3854335
<REALIZED-GAINS-CURRENT> (94751)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3759584
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3759584)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 761269070
<NUMBER-OF-SHARES-REDEEMED> (702032225)
<SHARES-REINVESTED> 3303708
<NET-CHANGE-IN-ASSETS> 62540553
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 486625
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1257563
<AVERAGE-NET-ASSETS> 139035495
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.26
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.26)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F5>
<F1>The expense ratio per the Templeton Money Fund Annual Report
August 31, 1994 is 0.90%.
</FN>
</TABLE>
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
The Board of Trustees and Shareholders
Templeton Income Trust
In planning and performing our audit of the financial statements of Templeton
Income Fund and Templeton Money Fund series of Templeton Income Trust for the
year ended August 31, 1994, 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 Templeton Income 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 effective-
ness 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 safe-
guarding securities, that we consider to be material weaknesses as defined
above as of August 31, 1994.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
McGladrey & Pullen
New York, New York
September 27, 1994
