The dye, l,l'-diethyl-2,2'-cyanine chloride, was studied in aqueous solution using Fourier transform proton magnetic resonance. The concentration dependencies of the chemical shifts for several different dye protons were determined over a concentration range of 2 X 10-2 to 3 X 10-5 M. All resonances shifted to higher applied field as dye concentration increased, establishing an aggregate structure in which dye molecules stack face to face with considerable overlap of the quinolinium ring system. In dilute solutions where only a monomer <=> dimer equilibrium occurs, the nmr data are interpreted in terms of "ring-current" theory and a dimer model that leads to Kb ~1X 103 M ~l. At higher concentrations, greater degrees of aggregation occur, which, by 2 X 10~2 M, shift dye aromatic protons -0.36 ppm compared with the monomer values. This shift change is interpreted in terms of a polymer composed of units similar to the dimer. Little specific evidence for any unique J-aggregate structure could be obtained. In D2O solutions, the methinyl proton was replaced slowly by deuterium and the rate was studied from pD 7 to 10.6. A rate constant for the acidcatalyzed process of 5 X 102 M~1 sec-1 was found for dye solutions at zero ionic strength.