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This paper is a translation and condensation of Silberer's book, originally given as a lecture in 1918. It surveys the historical background of the study of dreams, and pays tribute to Freud while indicating certain differences from his work. Silberer includes in his discussion hypnagogic hallucinations and experimental dreams. He examines the evidence for and against the 'superiority of the
dream': does it have capabilities of achievement beyond those of waking consciousness? He believes that the concept of the dream as a mirror of character is subject to serious limitations.