There have been several different and even opposed conceptions of the problem of logical constants, i.e., of the requirements that a good theory of logical constants ought to satisfy. This paper is in the first place a survey of these conceptions and a critique of the theories they have given rise to. A second aim of the paper is to sketch some ideas about what a good theory would look like. A. Third aim is to draw from these ideas and from the preceding survey the conclusion that most conceptions of the problem of logical constants involve requirements of a philosophically demanding nature which are probably not satisfiable by any minimally adequate theory.