SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C. 20549


FORM 12B-25                                       33-37991


                   NOTIFICATION OF LATE FILING


                          (Check One):

(   ) Form 10-K  (   ) Form 11-K  (   ) Form 10-Q  (X) Form N-SAR

     For Period Ended: 11/30/93
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     Read Attached Instruction Sheet Before Preparing Form. 
     Please Print or Type.

     Nothing in this Form shall be construed to imply that the
     Commission has verified any information contained herein.
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     If the notification relates to a portion of the filing
     checked above, identify the Item(s) to which the
     notification relates:
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I - Registrant Information
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     Full Name of Registrant            Putnam Balanced
																																								Government 
                                        Fund                     

               

     Former Name if Applicable          -----------
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     Address of Principal Executive Office (Street and Number)
     One Post Office Square
     City, State and Zip Code
     Boston, Massachusetts 02109
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     If the subject report could not be filed without
     unreasonable effort or expense and the registrant seeks
     relief pursuant to Rule 12b-25(b), the following should be
     completed.  (Check box if appropriate.)

          (a)  The reasons described in reasonable detail in Part
               III of this form could not be eliminated without
               unreasonable effort or expense;

    
     (X)  (b)  The subject annual report or semi-annual
               report/portion thereof will be filed on or before
               the fifteenth calendar day following the
               prescribed due date; or the subject quarterly
               report/portion thereof will be filed on or before
               the fifth calendar day following the prescribed
               due date; and
      
          (c)  The accountant's statement or other exhibit
               required by Rule 12b-25(c) has been attached if
               applicable.
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Part II - Narrative
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          State below in reasonable detail the reasons why the
          form 1--K, 11-K, 20-F, 10-Q or N-SAR or portion thereof
          could not be filed within the prescribed time period.

          Due to mainframe system problems, figures for items 22-
          23 must be calculated manually.
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Part IV - Other Information
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     (1)  Name and telephone number of person to contact in
          regard to this notification.

          Beth Marino         617            292-1471
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               (Name)         (Area Code)    (Telephone Number)

     (2)  Have all other periodic reports         (X) Yes  ( ) No
          required under section 13 or 15(d)
          of the Securities Exchange Act of 
          1934 or section 30 of the Investment
          Company Act of 1940 during the
          preceding 12 months or for such
          shorter period that the registrant
          was required to file such report(s)
          been filed?  If the answer is no,
          identify report(s). 

     (3)  It is anticipated that any significant  ( ) Yes (X) No 
          change in results of operations from
          the corresponding period for the last
          fiscal year will be reflected by the
          earnings statements to be included in
          the subject report or portion thereof?

      
          If so:  attach an explanation of the anticipated
          change, both narratively and quantitatively, and, if
          appropriate, state the reasons why a reasonable
          estimate of the results can not be made.

Putnam has caused this notification to be signed on its behalf by
the undersigned thereunto duly authorized.

                                        Gordon H. Silver
Date:  January 27, 1993               By:--------------------
                                        Gordon H. Silver
                                        Vice President
      
INSTRUCTION:  The form may be signed by an executive officer of
the registrant or by any other duly authorized representative. 
The name and title of the person singing the form shall be typed
or printed beneath the signature.  If the statement is signed on
behalf of the registrant by an authorized representative (other
than an executive officer), evidence of the representative's
authority to sign on behalf of the registrant shall be filed with
the form.
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                            ATTENTION
     Intentional misstatements or omissions of fact constitute
     Federal Criminal Violations (See 18 U.S. C. 1001).