Latent Content vs. Manifest Content
Latent content is the hidden content or meaning of a message or other character configuration (such as a dream);
Manifest Content is called superficial meaning.
Someone might dream that he is being chased by lions, tigers, or bears. The manifested (obvious) content of the dream is lions, tigers, or bears Its latent content, on the other hand, could be the anxiety felt by a stockbroker who realizes that competing companies are bridging the gap to his company’s success.
Today, subtext is often used as an approximate equivalent of latent content.