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Sigmund Freud's early presentation of dreams as special proof of the existence of unconscious mental processes has led to a persistent notion that dreams have a special position in clinical psychoanalysis as well. A review of Freud's writings, however, tends to support the view of the Kris Study Group that in the clinical situation the dream is one of many equally valid modes of communication from patient to psychoanalyst. The public, however, believes that psychoanalysts are, or ought to be, exceptionally competent in the interpretation of dreams and that they will use that skill in their clinical work. Patients therefore expect that their dreams will be addressed, and the psychoanalyst's performance in this area impresses the patient as do few other interventions. While our theory holds correctly that early dreams should be approached with great restraint, clinical circumstances often mandate active interpretation even when this poses a threat to the narcissism of the analyst. The author presents a brief vignette from his personal psychoanalysis that illustrates the great value of interpreting the first dream.