configure: WARNING: PS backend requires FreeType 2.1.4 or newer, disabling
checking for compress in -lz... yes
checking zlib.h usability... yes
checking zlib.h presence... yes
checking for zlib.h... yes
configure: WARNING: PDF backend requires FreeType 2.1.4 or newer, disabling
checking for stdint.h... (cached) yes

configure: error: Cairo requires at least one font backend.
                  Please install freetype and fontconfig, then try again:
                  http://freetype.org/  http://fontconfig.org/
I then executed this statement and configure completed successfully:
declare -x PKG_CONFIG_PATH=/usr/lib/pkgconfig 
cairo will be compiled with the following surface backends:
  Xlib: yes
  Quartz: no
  XCB: no
  Win32: no
  PostScript: no
  PDF: no
  glitz: no

the following font backends:
  FreeType: yes
  Win32: no
  ATSUI: no

and the following features:
  PNG functions: no

Then I executed the following:
drh@localhost cairo-1.0.2]$ declare -x PKG_CONFIG_PATH=$PKG_CONFIG_PATH:/usr/lib
[drh@localhost cairo-1.0.2]$ echo $PKG_CONFIG_PATH
/usr/lib/pkgconfig:/usr/lib
[drh@localhost cairo-1.0.2]$ locate libpng
/usr/lib/libpng.a
/usr/lib/libpng.so.2
/usr/lib/libpng.so
/usr/lib/libpng.so.2.1.0.14

./configure did not find the libpng
cairo will be compiled with the following surface backends:
  Xlib: yes
  Quartz: no
  XCB: no
  Win32: no
  PostScript: no
  PDF: no
  glitz: no

the following font backends:
  FreeType: yes
  Win32: no
  ATSUI: no

and the following features:
  PNG functions: no





Here is where I just finished installing it:
/usr/bin/install -c -m 644 /ext2e/freetype-2.1.5/builds/unix/freetype2.m4 \
          /usr/X11R6/share/aclocal/freetype2.m4
/usr/bin/install -c -m 644 /ext2e/freetype-2.1.5/builds/unix/freetype2.pc \
          /usr/X11R6/lib/pkgconfig/freetype2.pc
[root@localhost freetype-2.1.5]# ldconfig -v         

Here are some other messages that I received which may affect the above:
checking for pkg-config... /home/drh/kde3.4/bin/pkg-config
checking pkg-config is at least version 0.9.0... yes
checking for XRENDER... Package xrender was not found in the pkg-config search path.
Perhaps you should add the directory containing `xrender.pc'
to the PKG_CONFIG_PATH environment variable
No package 'xrender' found
checking X11/extensions/Xrender.h usability... yes
checking X11/extensions/Xrender.h presence... yes

checking for some Win32 platform... no
configure: WARNING: Could not find libpng in the pkg-config search path
configure: WARNING: "*** To run the tests
checking for FONTCONFIG... Package fontconfig was not found in the pkg-config
search path.
Perhaps you should add the directory containing `fontconfig.pc'
to the PKG_CONFIG_PATH environment variable
No package 'fontconfig' found