Pricing Supplement No. 23 Dated April 8, 1994          Rule 424(b)(3)
     (To Prospectus dated March 11, 1988 and             File No. 33-20359
     Prospectus Supplement dated May 21, 1992)         CUSIP No. 78355HCD9


     $200,000,000


     RYDER SYSTEM, INC.


     Medium-Term Notes, Series 8
     (Registered Notes--Fixed Rate)
     Due from Nine Months to Thirty Years from Date of Issue


     Principal Amount:   $5,000,000  (Five Million)

     Issue Price:      $5,000,000  (Five Million) (100%)

     Issue Date:         April 15, 1994

     Maturity Date:       April 15, 1999    

     Interest Rate:    6.99%
            __                      __
     Form  /X/ Book Entry          / / Certificated
                   __
     Redemption:  /X/ The Notes cannot be redeemed prior to maturity.
                  __
                 / /  The Notes may be redeemed prior to maturity.

          Terms of Redemption:     N/A
                                         __
     Repayment at option of holder:     /X/  The holder has no option to
                                             elect repayment of the Notes
                                             prior to maturity.
                                    __
                                   / /  The Notes are repayable prior to
                                        maturity at the option of holder.

          Terms of Repayment:   N/A
                       __        __
     Discount note:   / / Yes   /X/ No

          Total Amount of OID:     N/A

          Yield to Maturity:  6.99%

          Initial Accrual Period OID:  N/A

     Name of Agent and Agent's Discount or Commission:

          J.P. Morgan  $25,000


     Additional Terms: