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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") 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

Price Waterhouse LLP
1177 Avenue of the Americas
New York, New York  10036
February 27, 1997