In this article I reconstruct the transcendental analytics in the first half of the decade of 1770, and Iinterprete it as transcendental semantics. In a letter to Herzfrom 1772, Kant elaborates the critical project, whilerevising the Dissertation of 1770 and he hopes to write the Critique of pure reason in approximately threemonths. The solution of the problem that he has in mind by this time, is limited to the objectivity ofintellectualrepresentations.