<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE FRANKLIN INVESTORS SECURITIES TRUST APRIL 30, 2000 SEMI-ANNUAL
REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 054
<NAME> FRANKLIN GLOBAL GOVERMENT INCOME FUND - CLASS Z
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 89,138,454
<INVESTMENTS-AT-VALUE> 75,557,609
<RECEIVABLES> 3,560,300
<ASSETS-OTHER> 314
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 79,118,223
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 415,995
<TOTAL-LIABILITIES> 415,995
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 97,527,658
<SHARES-COMMON-STOCK> 11,604
<SHARES-COMMON-PRIOR> 89,885
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (165,021)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (4,995,484)
<ACCUM-APPREC-OR-DEPREC> (13,664,925)
<NET-ASSETS> 78,702,228
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,665,211
<OTHER-INCOME> 0
<EXPENSES-NET> (473,136)
<NET-INVESTMENT-INCOME> 3,192,075
<REALIZED-GAINS-CURRENT> (4,977,690)
<APPREC-INCREASE-CURRENT> 192,754
<NET-CHANGE-FROM-OPS> (1,592,861)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,413)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,521
<NUMBER-OF-SHARES-REDEEMED> (84,254)
<SHARES-REINVESTED> 1,452
<NET-CHANGE-IN-ASSETS> (11,740,481)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (764)
<OVERDIST-NET-GAINS-PRIOR> (17,794)
<GROSS-ADVISORY-FEES> (241,930)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (473,136)
<AVERAGE-NET-ASSETS> 85,134,269
<PER-SHARE-NAV-BEGIN> 7.730
<PER-SHARE-NII> 0.300<F2>
<PER-SHARE-GAIN-APPREC> (0.450)
<PER-SHARE-DIVIDEND> (0.300)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.280
<EXPENSE-RATIO> 0.960<F1>
<FN>
<F1>ANNUALIZED.
<F2>BASED ON AVERAGE SHARES OUTSTANDING.
</FN>
</TABLE>
