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                                                           EXHIBIT 23.1

                        Consent of Independent Auditors

We consent to the incorporation by reference in the following registration
statements of our report dated January 22, 1997 with respect to the consolidated
financial statements of CoreStates Financial Corp incorporated by reference in 
this Annual Report (Form 10-K) for the year ended December 31, 1996:

        (a)  The Registration Statement (Form S-8, No. 33-5874), in Post-
             Effective Amendment No. 1 to the Registration Statement (Form S-8,
             No. 2-91176), the Registration Statement (Form S-8, No. 33-28808)
             and in the related prospectuses, each pertaining to the CoreStates
             Financial Corp Long-Term Incentive Plan,

        (b)  The Registration Statement (Form S-8, No. 33-32934) and prospectus
             relating to shares of the Corporation's Common Stock issuable under
             the CoreStates Employee Stock Ownership and Savings Plan,

        (c)  The Registration Statement (Form S-3, No. 33-50324) pertaining to
             the CoreStates Financial Corp 1992 Long-Term Incentive Plan,

        (d)  The Registration Statement (Form S-3, No. 33-57034) and prospectus
             and prospectus supplement pertaining to $1,000,000,000 in aggregate
             amount of Debt Securities issuable by CoreStates Capital Corp and
             the related guarantees of the Corporation, and Preferred Stock,
             Depository Shares, Common Stock, and Capital Securities, issuable
             by the Corporation,

        (e)  The Registration Statement (Form S-3, No. 33-54049) and prospectus
             and prospectus supplement pertaining to $1,000,000,000 in aggregate
             amount of Debt Securities and warrants issuable by CoreStates
             Capital Corp and the related guarantees of the Corporation and
             Preferred Stock, Depository Shares and Common Stock issuable by the
             Corporation,
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        (f)  The Registration Statement (Form S-4, as amended by Form S-8, No.
             33-48422) and prospectus relating to shares of the Corporation's
             Common Stock issuable upon the exercise of stock options, the
             obligations in respect to which were assumed by the Corporation in
             connection with the acquisition of First Peoples Corporation,

        (g)  The Registration Statement (Form S-4, as amended by Form S-8, No.
             33-51429) and prospectus relating to shares of the Corporation's
             Common Stock issuable upon the exercise of stock options, the
             obligations in respect to which were assumed by the Corporation in
             connection with the acquisition of Constellation Bancorp,

        (h)  The Registration Statement (Form S-4, as amended by Form S-8, No.
             33-53539) and prospectus relating to shares of the Corporation's
             Common Stock issuable upon the exercise of stock options, the
             obligations in respect to which were assumed by the Corporation in
             connection with the acquisition of Independence Bancorp, Inc.,

        (i)  The Registration Statement (Form S-4, as amended by Form S-8, No.
             33-55505) and prospectus relating to shares of the Corporation's
             Common Stock issuable upon the exercise of stock options, the
             obligations in respect to which were assumed by the Corporation in
             connection with the acquisition of Germantown Savings Bank,

        (j)  The Registration Statement (Form S-4, as amended by Form S-8, 
             No. 33-300067) and prospectus relating to shares of the
             Corporation's Common Stock issuable upon the exercise of stock
             options, the obligations in respect to which were assumed by the
             Corporation in connection with the acquisition of Meridian Bancorp,
             Inc.,

        (k)  The Registration Statements (Form S-3, Nos. 33-54049 and 333-2297)
             and prospectus and prospectus supplement pertaining to
             $1,750,000,000 in aggregate amount of Debt Securities issuable by
             CoreStates Capital Corp and the related guarantees of the
             Corporation and Preferred Stock, Depository Shares and Common Stock
             issuable by the Corporation,
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        (l)  The Registration Statement (Form S-3, No. 033-40717) and prospectus
             relating to shares of the Corporation's Common Stock issuable under
             the Dividend Reinvestment Plan,

        (m)  The Registration Statement (Form S-8, No. 333-16569) and prospectus
             relating to shares of the Corporation's Common Stock issuable under
             the QuestPoint Savings Plan.



                                                 /s/ Ernst & Young LLP



Philadelphia, Pennyslvania
March 21, 1997