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SIGNATURE HENRY GABBAY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000880280
<NAME> THE BLACKROCK NORTH AMERICAN GOVERNMENT INCOME TRUST INC.
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Oct-31-1997
<PERIOD-END> Oct-31-1997
<INVESTMENTS-AT-COST> 619,119,380
<INVESTMENTS-AT-VALUE> 643,306,345
<RECEIVABLES> 59,796,545
<ASSETS-OTHER> 43,356,723
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 746,459,613
<PAYABLE-FOR-SECURITIES> 65,578,336
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 229,462,178
<TOTAL-LIABILITIES> 295,040,514
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 444,070,321
<SHARES-COMMON-STOCK> 36,207,093
<SHARES-COMMON-PRIOR> 36,207,093
<ACCUMULATED-NII-CURRENT> 1,469,672
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 26,737,241
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 32,616,347
<NET-ASSETS> 504,893,581
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 36,212,226
<OTHER-INCOME> 0
<EXPENSES-NET> 4,075,466
<NET-INVESTMENT-INCOME> 32,136,760
<REALIZED-GAINS-CURRENT> 46,282,519
<APPREC-INCREASE-CURRENT> (42,981,198)
<NET-CHANGE-FROM-OPS> 35,438,081
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
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<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,024,654
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (55,879,073)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,075,466
<AVERAGE-NET-ASSETS> 441,491,000
<PER-SHARE-NAV-BEGIN> 12.33
<PER-SHARE-NII> 0.89
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<PER-SHARE-DIVIDEND> (0.84)
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</TABLE>
For the year ended (a) October 31, 1997
File number (c) 811-6443
SUB-ITEM 77J
Restatement of Capital Share Account
The Trust accounts for and reports
distributions to shareholders in
accordance with the American Institute
of Certified Public Accountants'
Statement of Position 93-2:
Determination, Disclosure, and Financial
Statement Presentation of Income,
Capital Gain, and Return of Capital
Distributions by Investment Companies.
For the year ended October 31, 1997 the
Trust decreased undistributed net
investment income by $253,661,
increased accumulated net realized
losses on investments by $415,746, and
decreased accumulated net realized and
unrealized foreign currency losses by
$669,407 for realized foreign currency
losses incurred during the year ended
October 31, 1997. Net investment
income, net realized gains and net
assets were not affected by this change.
- 12 -
To the Shareholders and Board of
Directors of
The BlackRock Income Trust, Inc.:
In planning and performing our audit of
the financial statements of The
BlackRock Income Trust, Inc. (the
"Trust") for the year ended October 31,
1997 (on which we have issued our report
dated December 12, 1997), 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 the 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 effectiveness
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 safeguarding
securities, that we consider to be
material weaknesses as defined above as
of October 31, 1997.
This report is intended solely for the
information and use of management and
the Securities and Exchange Commission.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
December 12, 1997
To the Shareholders and Board of
Directors of
The BlackRock North American Government
Income Trust, Inc.:
In planning and performing our audit of
the financial statements of The
BlackRock North American Government
Income Trust, Inc. (the "Trust") for the
year ended October 31, 1997 (on which we
have issued our report dated December
12, 1997), 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 the 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 effectiveness
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 safeguarding
securities, that we consider to be
material weaknesses as defined above as
of October 31, 1997.
This report is intended solely for the
information and use of management and
the Securities and Exchange Commission.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
December 12, 1997
To the Shareholders and Board of
Directors of
The BlackRock California Investment
Quality Municipal Trust, Inc.:
In planning and performing our audit of
the financial statements of The
BlackRock California Investment Quality
Municipal Trust, Inc. (the "Trust") for
the year ended October 31, 1997 (on
which we have issued our report dated
December 12, 1997), 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 the 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 effectiveness
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 safeguarding
securities, that we consider to be
material weaknesses as defined above as
of October 31, 1997.
This report is intended solely for the
information and use of management and
the Securities and Exchange Commission.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
December 12, 1997
To the Shareholders and Board of
Directors of
The BlackRock Florida Investment
Quality Municipal Trust, Inc.:
In planning and performing our audit of
the financial statements of The
BlackRock Florida Investment Quality
Municipal Trust, Inc. (the "Trust") for
the year ended October 31, 1997 (on
which we have issued our report dated
December 12, 1997), 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 the 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 effectiveness
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 safeguarding
securities, that we consider to be
material weaknesses as defined above as
of October 31, 1997.
This report is intended solely for the
information and use of management and
the Securities and Exchange Commission.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
December 12, 1997
To the Shareholders and Board of
Directors of
The BlackRock New Jersey Investment
Quality Municipal Trust, Inc.:
In planning and performing our audit of
the financial statements of The
BlackRock New Jersey Investment Quality
Municipal Trust, Inc. (the "Trust") for
the year ended October 31, 1997 (on
which we have issued our report dated
December 12, 1997), 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 the 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 effectiveness
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 safeguarding
securities, that we consider to be
material weaknesses as defined above as
of October 31, 1997.
This report is intended solely for the
information and use of management and
the Securities and Exchange Commission.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
December 12, 1997
To the Shareholders and Board of
Directors of
The BlackRock New York Investment
Quality Municipal Trust, Inc.:
In planning and performing our audit of
the financial statements of The
BlackRock New York Investment Quality
Municipal Trust, Inc. (the "Trust") for
the year ended October 31, 1997 (on
which we have issued our report dated
December 12, 1997), 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 the 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 effectiveness
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 safeguarding
securities, that we consider to be
material weaknesses as defined above as
of October 31, 1997.
This report is intended solely for the
information and use of management and
the Securities and Exchange Commission.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
December 12, 1997
