I.e., another phase of the People's consciousness and relationship to their rulers (note the presence of "palaces" in the imagery that follows). Nostromo's memory of his earlier life in Europe allegorically evokes an earlier era of civilization, perhaps even ancient times, when the People were more directly abused by their rulers. That it too is a "dream" implies that history is a succession of illusions, taking turns to exploit the People in different forms.