EXHIBIT 23
                                                                         
                   CONSENT OF INDEPENDENT ACCOUNTANTS
                                    
We hereby consent to the incorporation by reference in the Prospectus
constituting part of the Registration Statement on Form S-3 (No.33-54239) of
Caterpillar Financial Services Corporation of our report dated 
January 19, 1995 appearing on Page 14 of this Form 10-K.





PRICE WATERHOUSE LLP




Chicago, Illinois
March 14, 1995