The above-mentioned formula, according to which the sexuality of a dream is a symbolic or analogous expression, naturally also holds good in the case of dreams occurring in the beginning of an analysis. But the practical reasons that have induced us not to take into consideration the symbolic value of this sexual phantasy, owe their existence to the fact that a genuine realistic value must be given to the abnormal sexual phantasies of a neurotic, in so far as the latter suffers himself to be influenced in his actions by these phantasies. Experience teaches us that these phantasies not only hinder him from adapting himself suitably to his situation, but that they also lead him to all manner of really sexual acts, and occasionally even to incest. Under these circumstances, it would be of little use to consider the symbolic content of the dream only; the concrete content must first be disposed of. These arguments are based upon a different conception of the dream from that put forward by Freud; for, indeed, my experience has forced me to a different conception. According to Freud, the dream is in its essence a symbolic veil for repressed desires which are in conflict with the ideals of the personality. I am obliged to regard the dream structure from a different point of view. The dream for me is, in the first instance, the subliminal picture of the psychological condition of the individual in his waking state. It presents a _résumé_ of the subliminal association material which is brought together by the momentary psychological situation. The volitional meaning of the dream which Freud calls the repressed desire, is, for me, essentially a means of expression. The activity of the consciousness, speaking biologically, represents the psychological effort which the individual makes in adapting himself to the conditions of life. His consciousness endeavours to adjust itself to the necessities of the moment, or, to put it differently: there are tasks ahead of the individual, which he must overcome. In many cases the solution is unknown; and for this reason the consciousness always tries to find the solution by the way of analogous experience. We always try to grasp what is unknown and in the future, according to our mental understanding of what has gone before. Now we have no reasons for assuming that the unconscious follows other laws than those which apply to conscious thought. The unconscious, like the conscious, gathers itself about the biological problems and endeavours to find solutions for these by analogy with what has gone before, just as much as the conscious does. Whenever we wish to assimilate something that is unknown, we arrive at it by a process of comparison. A simple example of this is the well-known fact that, when America was discovered by the Spaniards, the Indians took the horses of the conquerors, which were strange to them, for large pigs, because pigs were familiar to their experience.