This volume, second in a series of seven reports of the Value of Children Project, discusses results of the survey in the Philippines. The study identifies major values and disvalues that Filipino parents attach to children. It also examines characteristics of parents that are related to values and disvalues. The document is presented in seven chapters. Chapter I discusses approaches and methods of the survey. Questionnaires were administered to 389 married parents. Items covered motives for having or not having another child, family size, family size characteristics, and family planning practice. Chapter II describes the child values and disvalues enumerated by parents. Chapter III examines questions of value differences between individuals by correlating value indices and social characteristics of the respondent. Chapter IV deals with economic values associated with children. Chapter V considers to what degree child values and disvalues affect family size desires and Chapter VI considers their effect on several family planning indices. Chapter VII summarizes findings and suggests implications for population policy. Results indicate that values are happiness that children bring to parents, assistance they provide in old age, help with housework, love between parent and child, and the desire to learn about life through having children. The most prominent disvalue is financial burden; others are discipline and anxiety over children's health. Policy implications include further promotion of family planning and a change in the quality of social relations which could reduce family size desires. (Author/KC)