The first thing which becomes clear to the investigator in the comparison of the dream content with the dream thoughts is that a tremendous work of condensation has taken place. The dream is reserved, paltry, and laconic when compared with the range and copiousness of the dream thoughts. The dream when written down fills half a page; the analysis, in which the dream thoughts are contained, requires six, eight, twelve times as much space. The ratio varies with different dreams; it never changes its essential meaning, as far as I have been able to observe. As a rule the extent of the compression which has taken place is under-estimated, owing to the fact that the dream thoughts which are brought to light are considered the complete material, while continued work of interpretation may reveal new thoughts which are concealed behind the dream. We have already mentioned that one is really never sure of having interpreted a dream completely; even if the solution seems satisfying and flawless, it still always remains possible that there is a further meaning which is manifested by the same dream. Thus the _amount of condensation_ is—strictly speaking—indeterminable. An objection, which at first sight seems very plausible, might be raised against the assertion that the disproportion between dream content and dream thought justifies the conclusion that an abundant condensation of psychic material has taken place in the formation of dreams. For we so often have the impression that we have dreamed a great deal throughout the night and then have forgotten the greater part. The dream which we recollect upon awakening would thus be only a remnant of the total dream-work, which would probably equal the dream thoughts in range if we were able to remember the former completely. In part this is certainly true; there can be no mistake about the observation that the dream is most accurately reproduced if one tries to remember it immediately after awakening, and that the recollection of it becomes more and more defective towards evening. On the other hand, it must be admitted that the impression that we have dreamed a good deal more than we are able to reproduce is often based upon an illusion, the cause of which will be explained later. Moreover, the assumption of condensation in the dream activity is not affected by the possibility of forgetting in dreams, for it is proved by groups of ideas belonging to those particular parts of the dream which have remained in the memory. If a large part of the dream has actually been lost to memory, we are probably deprived of access to a new series of dream thoughts. It is altogether unjustifiable to expect that those portions of the dream which have been lost also relate to the thoughts with which we are already acquainted from the analysis of the portions which have been preserved.