Exhibit 23.1

                       CONSENT OF INDEPENDENT ACCOUNTANTS


         We hereby consent to the incorporation by reference in this
Registration Statement on Form S-3 of our reports dated January 27, 2003,
relating to the consolidated financial statements, selected consolidated
financial data and the financial statement schedule of The Goldman Sachs Group,
Inc. and Subsidiaries (the "Company"), which reports are included or
incorporated by reference in the Company's Annual Report on Form 10-K for the
fiscal year ended November 29, 2002. We also consent to the references to our
firm under the caption "Experts".

/s/ PricewaterhouseCoopers LLP
New York, New York
May 14, 2003