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                                                                    EXHIBIT 23.1
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
     We hereby consent to the incorporation by reference in this Registration
Statement on Form S-3 of The Chase Manhattan Corporation (the "Corporation"),
Chase Capital II and Chase Capital III of our report dated March 31, 1996
appearing on page 50 of the 1995 Annual Report to Stockholders of the
Corporation set forth in the Current Report on Form 8-K dated April 16, 1996 of
the Corporation and of our report dated January 16, 1996 appearing on page 42 of
Chemical Banking Corporation's Annual Report on Form 10-K for the year ended
December 31, 1995. We also consent to the reference to us under the heading
"Experts" in such Registration Statement.
 
                                                /s/  PRICE WATERHOUSE LLP
 
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Price Waterhouse LLP
1177 Avenue of the Americas
New York, New York 10036
January 14, 1997