EXHIBIT 23.1

                       CONSENT OF INDEPENDENT AUDITORS

     We consent to the  incorporation  by reference in this Annual  Report (Form
10-K) of State Street Boston  Corporation  of our report dated January 11, 1995,
except for Note B, as to which the date is January  31,  1995,  included  in the
1994 Annual Report to Shareholders of State Street Boston Corporation.

     We  also  consent  to  the   incorporation  by  reference  in  Registration
Statements  (Forms S-8 Nos.  33-57359,  33-38672,  33-38671,  33-2882,  2-93157,
2-88641  and 2- 68698) and in  Post-Effective  Amendment  No. 2 to  Registration
Statement  (Form  S-8 No.  2-68696)  pertaining  to  various  stock  option  and
performance  share plans, and in Registration  Statement (Form S-3 No. 33-49885)
pertaining  to the  registration  of debt  securities  of  State  Street  Boston
Corporation of our report dated January 11, 1995, except for Note B, as to which
the date is  January  31,  1995,  with  respect  to the  consolidated  financial
statements of State Street Boston Corporation  incorporated  herein by reference
in this Annual Report (Form 10-K) for the year ended December 31, 1994.




Boston, Massachusetts                                Ernst & Young LLP
March 25, 1995