(_b_) Several recent, significant experiences, which are united by the dream into a whole.[AV] (_c_) One or more recent and significant experiences, which are represented in the dream by the mention of a contemporary but indifferent experience.[AW] (_d_) A subjective significant experience (a recollection, train of thought), which is _regularly_ represented in the dream by the mention of a recent but indifferent impression.[AX] As may be seen, in dream interpretation the condition is firmly adhered to throughout that each component of the dream repeats a recent impression of the day. The element which is destined to representation in the dream may either belong to the presentations surrounding the actual dream stimulus itself—and, furthermore, either as an essential or an inessential element of the same—or it may originate in the neighbourhood of an indifferent impression, which, through associations more or less rich, has been brought into relation with the thoughts surrounding the dream stimulus. The apparent multiplicity of the conditions here is produced by _the alternative according to whether displacement has or has not taken place_, and we may note that this alternative serves to explain the contrasts of the dream just as readily as the ascending series from partially awake to fully awake brain cells in the medical theory of the dream (_cf._ p. 64). Concerning this series, it is further notable that the element which is psychologically valuable, but not recent (a train of thought, a recollection) may be replaced, for the purposes of dream formation, by a recent, but psychologically indifferent, element, if only these two conditions be observed: 1. That the dream shall contain a reference to something which has been recently experienced; 2. That the dream stimulus shall remain a psychologically valuable train of thought. In a single case (_a_) both conditions are fulfilled by the same impression. If it be added that the same indifferent impressions which are used for the dream, as long as they are recent, lose this availability as soon as they become a day (or at most several days) older, the assumption must be made that the very freshness of an impression gives it a certain psychological value for dream formation, which is somewhat equivalent to the value of emotionally accentuated memories or trains of thought. We shall be able to see the basis of this value of _recent_ impressions for dream formation only with the help of certain psychological considerations which will appear later.[AY]