Foreign key constraint violation when using table inheritance

My TestDB has the following schema:

CREATE TABLE name (
name_id BigSerial PRIMARY KEY,
name Text
);

CREATE TABLE base_value (
value_id BigSerial PRIMARY KEY
);

CREATE TABLE string_value (
value Text
) INHERITS (base_value);

CREATE TABLE name_value (
name_id BigInt REFERENCES name,
value_id BigInt REFERENCES base_value
);

The following inserts result in a failure:

TestDB=# INSERT INTO name (name) VALUES ('a name');
INSERT 0 1

TestDB=# INSERT INTO string_value (value) VALUES ('a string');
INSERT 0 1

TestDB=# INSERT INTO name_value (name_id, value_id) VALUES (1, 1);
ERROR: insert or update on table "name_value" violates foreign key constraint "name_value_value_id_fkey"
DETAIL: Key (value_id)=(1) is not present in table "base_value".

even though both base_value and string_value have rows with value_id 1:

TestDB=# SELECT * FROM base_value;
value_id
----------
1
(1 row)

TestDB=# SELECT * FROM string_value;
value_id | value
----------+----------
1 | a string
(1 row)

What am I doing wrong?

- Doug