<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 0000844040
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FRANKLIN GOVERNMENT SECURITIES TRUST
001 B000000 811-5709
001 C000000 6503122000
002 A000000 777 MARINERS ISLAND BOULEVARD
002 B000000 SAN MATEO
002 C000000 CA
002 D010000 94404
002 D020000 1585
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004 000000 Y
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006 000000 N
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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 FRANKLIN ADVISERS, INC.
008 B000001 A
008 C000001 801-26292
008 D010001 SAN MATEO
008 D020001 CA
008 D030001 94404
008 D040001 1585
010 A000001 FRANKLIN TEMPLETON SERVICES, INC.
010 C010001 SAN MATEO
010 C020001 CA
010 C030001 94404
010 C040001 1585
012 A000001 FRANKLIN/TEMPLETON INVESTOR SERVICES, INC.
012 B000001 84-1036
012 C010001 SAN MATEO
012 C020001 CA
012 C030001 94404
012 C040001 1585
<PAGE> PAGE 2
013 A000001 COOPERS & LYBRAND L.L.P.
013 B010001 SAN FRANCISCO
013 B020001 CA
013 B030001 94105
013 B040001 2119
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 214
019 C000000 FRNKTEMGRP
020 C000001 0
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 0
022 A000001 AUBREY LANSTON & COMPANY
022 B000001 13-5552129
022 C000001 71674
022 D000001 0
022 A000002 UBS SECURITIES, L.L.C.
022 B000002 13-2932996
022 C000002 58412
022 D000002 3700
022 A000003 DONALDSON LUFKIN & JENRETTE
022 B000003 13-2741729
022 C000003 57825
022 D000003 2757
022 A000004 FUJI SECURITIES, INC.
022 B000004 13-3038090
022 C000004 55130
022 D000004 0
022 A000005 CIBC WOOD GUNDY SECURITY
022 B000005 13-3639028
022 C000005 54641
022 D000005 0
022 A000006 LEHMAN BROTHERS, INC.
022 B000006 13-2518466
022 C000006 53554
022 D000006 0
022 A000007 SBCI SWISS BANK CORP INV BANK
<PAGE> PAGE 3
022 B000007 13-2639550
022 C000007 50383
022 D000007 0
022 A000008 BEAR, STEARNS & CO, INC.
022 B000008 13-3299429
022 C000008 43889
022 D000008 0
022 A000009 BANK OF AMERICA NT & SA
022 B000009 94-1687665
022 C000009 35036
022 D000009 0
022 A000010 BARCLAYS DE SOETE WEDD NY
022 B000010 13-3551367
022 C000010 33178
022 D000010 0
023 C000000 656110
023 D000000 23794
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025 D000001 0
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027 000000 Y
028 A010000 581
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028 B010000 1492
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028 B040000 653
028 C010000 1849
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028 C030000 0
028 C040000 2744
028 D010000 1649
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<PAGE> PAGE 4
028 D040000 1265
028 E010000 1204
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<PAGE> PAGE 5
048 D020000 0.440
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<PAGE> PAGE 6
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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 N
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 N
<PAGE> PAGE 7
070 N020000 N
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<PAGE> PAGE 8
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<PAGE> PAGE 9
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 B000000 NONE
080 C000000 150000
081 A000000 Y
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SIGNATURE DIOMEDES LOO-TAM
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN GOVERNMENT SECURITIES TRUST DEC 31, 1997 ANNUAL REPORT
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000844040
<NAME> FRANKLIN GOVERNMENT SECURITIES TRUST
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1,775,096
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,611,185
<OTHER-INCOME> 0
<EXPENSES-NET> (142,584)
<NET-INVESTMENT-INCOME> 1,468,601
<REALIZED-GAINS-CURRENT> 246,034
<APPREC-INCREASE-CURRENT> 233,061
<NET-CHANGE-FROM-OPS> 1,947,696
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,578,341)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 669,609
<NUMBER-OF-SHARES-REDEEMED> (2,567,821)
<SHARES-REINVESTED> 123,116
<NET-CHANGE-IN-ASSETS> 4,069,891
<ACCUMULATED-NII-PRIOR> 1,578,168
<ACCUMULATED-GAINS-PRIOR> (190,015)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 140,469
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 142,584
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 13.160
<PER-SHARE-NII> 0.000
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.869)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 0.000
<EXPENSE-RATIO> 0.000
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
Attachment for Q# 77H
Aetna Life Insurance and Annuity Company ceased to be a
controlling person of the registrant on November 28, 1997 as a
result of a complete redemption of all shares of the registrant.
