EXHIBIT (v)
                                             -----------


                      CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the incorporation by reference in the Prospectus
constituting part of the Registration Statements on:
 
          Form                          Reference    
          ----                          ---------   
                                                    
          Form S-8                      No. 33-5291 
                                                    
          Form S-8                      No. 33-4549 
                                                    
          Form S-8                      No. 33-22238
                                                    
          Form S-8                      No. 33-5765 
                                                    
          Form S-8                      No. 33-41182
                                                    
          Form S-3                      No. 33-5289 
                                                    
          Form S-3                      No. 33-5290 
                                                    
          Form S-3                      No. 33-18280
                                                    
          Form S-3                      No. 33-25730
                                                    
          Form S-3                      No. 33-21723
                                                    
          Form S-3                      No. 33-27244
                                                    
          Form S-3                      No. 33-33948 
 

of Pitney Bowes Inc. of our report dated January 26, 1998 appearing on page 46
of the Pitney Bowes Inc. 1997 Annual Report to Stockholders which is
incorporated in this Annual Report on Form 10-K. We also consent to the
incorporation by reference in the aforementioned Registration Statements of our
report on the financial statement schedule, which appears on page 18 of this
Form 10-K.



Price Waterhouse LLP



Stamford, Connecticut
March 27, 1998