We have just subjected a series of dreams to interpretation, but without taking the question of wish-fulfilment into consideration at all. I feel certain that while we were talking about them the question repeatedly forced itself upon you: “What has become of the wish-fulfilment which is supposed to be the object of the dream-work?” Now this question is important, for it is the one which our lay critics are constantly asking. As you know, mankind has an instinctive antipathy to intellectual novelties; one of the ways in which this shows itself is that any such novelty is immediately reduced to its very smallest compass, and if possible embodied in some catch-word. “Wish-fulfilment” has become the catch-word for the new theory of dreams. Directly they hear that dreams are said to be wish-fulfilments, the laity asks: “Where does the wish-fulfilment come in?” and their asking the question amounts to a repudiation of the idea. They can immediately think of countless dreams of their own which were accompanied by feeling so unpleasant as sometimes to reach the point of agonizing dread; and so this statement of the psycho-analytical theory of dreams appears to them highly improbable. It is easy to reply that in distorted dreams the wish-fulfilment is not openly expressed, but has to be looked for, so that it cannot be shown until the dreams have been interpreted. We know too that the wishes underlying these distorted dreams are those which are prohibited and rejected by the censorship, and that it is just their existence which is the cause of distortion and the motive for the intervention of the censorship. But it is difficult to make the lay critic understand that we must not ask about the wish-fulfilment in a dream before it has been interpreted; he always forgets this. His reluctance to accept the theory of wish-fulfilment is really nothing but the effect of the dream-censorship, causing him to replace the real thought by a substitute, and following from his repudiation of these censored dream-wishes. Of course we ourselves must feel the need to explain why so many dreams are painful in content; and in particular we shall want to know how we come to have ‘anxiety-dreams.’ Here for the first time we are confronted with the problem of the affects in dreams; a problem which deserves special study, but one which we cannot concern ourselves with just now, unfortunately. If the dream is a wish-fulfilment, it should be impossible for any painful emotions to come into it: on this point the lay critics seem to be right. But the matter is complicated by three considerations which they have overlooked.