Pricing Supplement No. 14                    For SEC Filing Purposes:
 Dated: July 19, 1996                       Filed Under Rule 424(b)(2)
 To Prospectus dated April 13, 1994         Registration Nos. 33-48167
 Prospectus Supplement dated May 2, 1994                      33-52945

                      Principal Amount $7,000,000

                      International Paper Company

                      MEDIUM-TERM NOTES, SERIES E

                Due 9 Months or More from Date of Issue

 Date of Issue:  July 24, 1996           Spread: N/A
                                         Spread Multiplier: N/A
 Maturity Date:  July 23, 1999           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 If Put
        Each April 1 and October 1         Right Not Available): N/A
                                         Repurchase Price (If Other Than 100% of
 ____ Floating Rate Note                   Principal Amount): N/A
 ____ CD Rate Note                       Redemption Date: N/A
 ____ Commercial Paper Rate Note         Redemption Premium:  N/A
 ____ Federal Funds Rate Note            Premium Reduction Amount: N/A
 ____ LIBOR Note
 ____ Prime Rate Note                    Original Issue Discount Security: N/A
 ____ Treasury Rate Note                 ____ For Federal Income Tax Purposes
 Currency or Currency Units: U.S.        ____ Subject to Special Provisions
   Dollars                               Issue Date for Calculating OID: N/A
 Issue Price (As a Percentage of         Original Issue Discount: N/A
   Principal Amount): 100.00%            Original Issue Discount Applicable 
 Interest Rate/Initial Interest            to Short Accrual Period: N/A
   Rate: 6.70% per annum                   Computed under (exact__)
 Interest Payment Dates:  April 1,                        (approximate__) method
   October 1                             Yield to Maturity: N/A
 Interest Reset Dates: N/A               Default Rate (only applicable
 Interest Payment Period: N/A              if OID Security): N/A 
 Interest Rate Reset Period: N/A         Amortized Face Amount: N/A   
 Interest Determination Dates: N/A    
 Index Maturity:  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 CC1                                 
                                                                    
                                       CS FIRST BOSTON