formula as follows: _The dream is the (disguised) fulfilment of a (suppressed, repressed) wish._[AN] Now there still remain as a particular species of dreams with painful content, dreams of anxiety, the inclusion of which under dreams of wishing will find least acceptance with the uninitiated. But I can settle the problem of anxiety dreams in very short order; for what they may reveal is not a new aspect of the dream problem; it is a question in their case of understanding neurotic anxiety in general. The fear which we experience in the dream is only seemingly explained by the dream content. If we subject the content of the dream to analysis, we become aware that the dream fear is no more justified by the dream content than the fear in a phobia is justified by the idea upon which the phobia depends. For example, it is true that it is possible to fall out of a window, and that some care must be exercised when one is near a window, but it is inexplicable why the anxiety in the corresponding phobia is so great, and why it follows its victims to an extent so much greater than is warranted by its origin. The same explanation, then, which applies to the phobia applies also to the dream of anxiety. In both cases the anxiety is only superficially attached to the idea which accompanies it and comes from another source. On account of the intimate relation of dream fear to neurotic fear, discussion of the former obliges me to refer to the latter. In a little essay on “The Anxiety Neurosis,”[AO] I maintained that neurotic fear has its origin in the sexual life, and corresponds to a libido which has been turned away from its object and has not succeeded in being applied. From this formula, which has since proved its validity more and more clearly, we may deduce the conclusion that the content of anxiety dreams is of a sexual nature, the libido belonging to which content has been transformed into fear. Later on I shall have opportunity to support this assertion by the analysis of several dreams of neurotics. I shall have occasion to revert to the determinations in anxiety dreams and their compatibility with the theory of wish-fulfilment when I again attempt to approach the theory of dreams. V THE MATERIAL AND SOURCES OF DREAMS After coming to realise from the analysis of the dream of Irma’s injection that the dream is the fulfilment of a wish, our interest was next directed to ascertaining whether we had thus discovered a universal characteristic of the dream, and for the time being we put aside every other question which may have been aroused in the course of that interpretation. Now that we have reached the goal upon one of these paths, we may turn back and select a new starting-point for our excursions among the problems of the dream, even though we may lose sight for a time of the theme of wish-fulfilment, which has been as yet by no means exhaustively treated.