

                                                                  Exhibit 23.1


                        CONSENT OF INDEPENDENT AUDITORS


We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-3 for the registration of currency warrants,
index warrants, and interest rate warrants and in the related Prospectus of
Dean Witter, Discover & Co. (to be renamed Morgan Stanley, Dean Witter,
Discover & Co.) for the same securities and to the incorporation by reference
therein of our report, dated January 7, 1997, with respect to the consolidated
financial statements and financial statement schedule of Morgan Stanley Group
Inc. incorporated by reference and included in its Annual Report on Form 10-K
for the fiscal year ended November 30, 1996, filed with the Securities and
Exchange Commission.


                                                         Ernst & Young LLP


New York, New York
May 28, 1997



