What are the values associated with liberalism?

I assume that you are asking about liberalism in the
historical sense as opposed to liberalism in the context of the American
conservative-liberal political divide.

If so, the major
value associated with liberalism is the idea that individuals are important and that
they have rights that the government must protect.  This value informs the most
important aspects of liberal systems.  For example, one major aspect of a liberal system
is a limited government.  Liberals believe that government must be limited so that it
cannot trample the rights of its citizens.  As another example, liberals believe in the
sanctity of private property.  Again, this is a case in which they believe the
government must respect and protect a particular right that its citizens
have.

In this way, the most important aspects of a liberal
system go back to one value; the idea that individuals and their rights are
important.