Pricing Supplement No. 9                     For SEC Filing Purposes:
      Dated:  August 3, 1994                     Filed Under Rule 424(b)(2)
      To Prospectus dated April 13, 1994         Registration Nos. 33-52945
      Prospectus Supplement dated May 2, 1994                      33-48167

                           Principal Amount $7,500,000

                           International Paper Company

                           MEDIUM-TERM NOTES, SERIES E

                     Due 9 Months or More from Date of Issue

 Date of Issue:  August 10, 1994        Spread: N/A
                                        Spread Multiplier: N/A
 Maturity Date:  August 10, 2001        Maximum Interest Rate, if any: N/A
                                        Minimum Interest Rate, if any: N/A
 ____ Zero-Coupon Note                  Interest Calculation Dates: N/A
   X  Fixed Rate Note                   Calculation Agent: N/A
      Regular Record Dates:
      Each March 15 and September 15    Put Right Termination Date if 
      Interest Payment Dates:             Other Than Maturity Date (N/A 
        Each April 1 and October 1        If Put Right Not Available): N/A
                                         Repurchase Price (If Other Than
 ____ CD Rate Note                       100% of Principal Amount): N/A
 ____ Commercial Paper Rate Note        Redemption Date: N/A
 ____ Federal Funds Rate Note           Redemption Premium: N/A
 ____ LIBOR Note                        Premium Reduction Amount: N/A
 ____ Prime Rate Note
 ____ Treasury Rate Note
 Currency or Currency Units:            Original Issue Discount Security: N/A
   U.S. Dollars
 Issue Price (As a Percentage of 
   Principal Amount): 100.00%           ____ For Federal Income Tax Purposes
 Interest Rate/Initial Interest 
   Rate: 7.39%                          ____ Subject to Special Provisions
 Interest Payment Dates:                Issue Date for Calculating OID: N/A
 Interest Reset Dates: N/A              Original Issue Discount: N/A
 Interest Payment Period: N/A           Original Issue Discount
 Interest Rate Reset Period: N/A          Applicable to Short Accrual
                                            Period: N/A
 Interest Determination Dates: N/A        Computed under (exact___)
                                          (approximate___) method
                                        Yield to Maturity: N/A
 Index Maturity: N/A                    Default Rate (only applicable if 
                                          OID Security): N/A
                                        Amortized Face Amount: N/A
 Redemption Price: No redemption 
   prior to maturity.

 The Redemption Price shall initially be 100% of the principal amount of
 this Security plus the Redemption Premium, if any, and shall decline at
 each anniversary of the Redemption Date by the annual Premium Reduction
 Amount, if any, until the Redemption Price is 100% of such principal
 amount; provided, however, that if this Security is an Original Issue
 Discount Security subject to Special Provisions, the Redemption Price
 shall be the Amortized Face Amount plus the Redemption Premium, if any,
 which shall decline at each anniversary of the Redemption Date by the
 annual Premium Reduction Amount until the Redemption Price equals the
 Amortized Face Amount.

      Other Terms:            CUSIP #46014H BW8


                                  MERRILL LYNCH & CO.
                         MORGAN STANLEY & CO. INCORPORATED
                         KIDDER, PEABODY & CO. INCORPORATED