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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 17, 1996 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, 1995:

      (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 the CoreStates 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 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-3, as amended by Post Effective
          Amendment No. 2, No. 33-40717) and prospectus relating to shares of
          the Corporation Common Stock issuable pursuant to the CoreStates
          Dividend Reinvestment and Share Purchase Plan,

     (h)  The Registration Statement (Form S-4, as amended by Form S-8, No. 33-
          51429) and prospectus relating to shares of the Corporation 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,

     (i)  The Registration Statement (Form S-4, as amended by Form S-8, No. 33-
          53539) and prospectus relating to shares of the Corporation 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.,

     (j)  The Registration Statement (Form S-4, as amended by Form S-8, No. 33-
          55505) and prospectus relating to shares of the Corporation 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, and

     (k)  The Registration Statement (Form S-4, No. 333-00067) and prospectus
          relating to shares of the Corporation 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.

                                                           /s/ Ernst & Young LLP


Philadelphia, Pennsylvania
March 25, 1996