EXHIBIT (12)

                            ROHM AND HAAS COMPANY
                              AND SUBSIDIARIES

              COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

                                                YEAR ENDED DECEMBER 31,
                                          ------------------------------------
                                          1993    1992    1991    1990    1989
                                          ----    ----    ----    ----    ----
                                                 (millions of dollars)
Earnings before income taxes............. $194    $261    $240    $313    $251
Fixed charges............................   79      83      79      77      70
Capitalized interest adjustment..........   (7)     (3)     (6)    (17)    (12)
Undistributed earnings adjustment........    6       2      (2)     (5)      2
                                          ----    ----    ----    ----    ----
Earnings................................. $272    $343    $311    $368    $311
                                          ====    ====    ====    ====    ====
Ratio of earnings to fixed charges.......  3.4     4.1     3.9     4.8     4.4
                                          ====    ====    ====    ====    ====

Note: Earnings  consist of  earnings before  income taxes  and fixed
      charges after eliminating undistributed  earnings of affiliates
      and capitalized  interest  net  of  amortization  of previously
      capitalized interest. Fixed charges consist of interest expense,
      including capitalized interest, and amortization of debt discount
      and expense on all indebtedness, plus one-third of rent expense
      deemed to represent an interest factor.

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