See what an abundance of information we have gained, with almost no effort, from the consideration of children's dreams--the function of the dream as a guardian of sleep; its origin from two rival tendencies, of which the one, the longing for sleep, remains constant, while the other tries to satisfy a psychic stimulus; the proof that the dream is a significant psychic act; its two main characteristics: wish fulfillment and hallucinatory experience. And we were almost able to forget that we are engaged in psychoanalysis. Aside from its connection with errors our work has no specific connotation. Any psychologist, who is entirely ignorant of the claims of psychoanalysis, could have given this explanation of children's dreams. Why has no one done so? If there were only infantile dreams, our problem would be solved, our task accomplished, and that without questioning the dreamer, or approaching the unconscious, and without taking free association into consideration. The continuation of our task plainly lies in this direction. We have already repeatedly had the experience that characteristics that at first seemed universally true, have subsequently held good only for a certain kind and for a certain number of dreams. It is therefore for us to decide whether the common characteristics which we have gathered from children's dreams can be applied universally, whether they also hold for those dreams that are not transparent, whose manifest content shows no connection with wishes left over from the previous day. We think that these dreams have undergone considerable distortion and for this reason are not to be judged superficially. We also suspect that for the explanation of this distortion we shall need the psychoanalytic method which we could dispense with in the understanding of children's dreams.