Exhibit (i)
                                                         -----------




                      Pitney Bowes Credit Corporation

             Computation of Ratio of Earnings to Fixed Charges



(Dollars in thousands)

                                   Years Ended December 31              
                        --------------------------------------------
                            1993     1992     1991     1990     1989
                        --------  -------  -------  -------  -------
Income before
  income taxes          $189,960 $185,704 $148,746 $131,582 $105,269
                         -------  -------  -------  -------  -------
Fixed charges:
  Interest on debt       137,372  146,594  167,236  164,699  161,267
  1/3 rental expense       1,575    1,491    1,389    1,321    1,159
                         -------  -------  -------  -------  -------

  Total fixed charges    138,947  148,085  168,625  166,020  162,426
                         -------  -------  -------  -------  -------

    Total               $328,907 $333,789 $317,371 $297,602 $267,695
                         =======  =======  =======  =======  =======

Ratio of earnings
  to fixed charges (1)     2.37X    2.25X    1.88X    1.79X    1.65X
                         =======  =======  =======  =======  =======



(1)  The ratio of earnings to fixed charges has been computed by
     dividing income before income taxes and fixed charges by fixed
     charges.  Fixed charges consist of interest on debt and one-third
     rental expense as representative of the interest portion of
     rentals.