Franz Brentano developed an original theory of intrinsic value which he attempted to base on his philosophical psychology. Roderick Chisholm presents here a critical exposition of this theory and its place in Brentano's general philosophical system. He gives a detailed account of Brentano's ontology, showing how Brentano tried to secure objectivity for ethics not through a theory of practical reason, but through his theory of the intentional objects of emotions and desires. Professor Chisholm goes on to develop certain suggestions about intrinsic value made by Brentano and his students, and discusses their relevance to theodicy and the problem of evil. Brentano, as the teacher of Husserl, Meinong, Twardowski, and others, stands at the origin of the phenomenological tradition and of the Polish school of philosophy that developed after World War I. He has also had considerable influence on Anglo-American philosophy. This book will interest those concerned with the origins of phenomenological value theory and more generally with the connections between ethics and philosophical psychology.