 So we know that expressions are associated with characters, which are functions from contexts to contents; and we know that contents are things which, for each circumstance of evaluation, determine a reference. We can now raise a central question of (classical) semantic theories: what sorts of things are contents? The foregoing suggests a pleasingly minimalist answer to this question: perhaps, since contents are things which together with circumstances of evaluation determine a reference, contents just are functions from circumstances of evaluation to a reference.