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                                                                    EXHIBIT 23.1
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
                            ------------------------
 
We consent to the inclusion in the Prospectus constituting part of this
Registration Statement on Form S-1 of our reports dated January 22, 1999, on our
audits of the consolidated financial statements, selected historical
consolidated income statement and balance sheet data (other than adjusted
assets) and the financial statement schedule of The Goldman Sachs Group, L.P.
and Subsidiaries. We also consent to the references to our firm under the
captions "Experts", "Summary Consolidated Financial Data", and "Selected
Consolidated Financial Data".
 
/s/ PricewaterhouseCoopers LLP
 
New York, New York
March 31, 1999.