The PKT, after mentioning Levi's design, defines the card as "the
destiny of the Supernatural East and the great and holy light which
goes before the endless procession of humanity, coming out from the
walled garden of the sensitive life and passing on the journey home."
	The East is, of course, where the Sun rises and signifies, at
least generally, some beginning. This card descibes this Supernatural
beginning as it has reached its destiny, a completed work. Typically
Waitean, instead of "the end", we get "the aim of the beginning". That
it goes before the whole of humanity indicates that it is at least
comprehensive- we all get one, it happens to us all. The walled
garden is a common, classical reference to the material world or the
soulish, earthy part of man.
    The symbol itself had been used by Waite previously in "The
Collected Poems of Arthur Edward Waite", the mystery play "The Lost
Word". The play is a study of the plight of mystical quester  in the
mundane world (The House of Long Sorrow) and its conclusion (Vol II,
p. 55f) reveals a final procession in which all the occupants are
finally lead out of the House with its walled garden and up the path
toward the Highest Summit. The officials of the House are members of
the caravan, but not its leaders- two Fraters converse:

"FRATER SYMPHONIACUS.
Who goes before us in the rock-hewn way?

FRATER PACIFICUS.
A little child upon a great white horse,
Who gives the sunlight back from golden hair
And the lithe wonder of his naked limbs
Thrice glorified.  Whence comes he!  The old House
Has known him not, whom now we mark alone.

FRATER SYMPHONIACUS.
The oldest and the youngest of the House
He seems; direct along the lineal way
He leads us: surely, in this need extreme,
Not utterly cast out, the sign long sought,
Forbearing violence and void of haste,
All silently the flower-sweet natural air
Gives up, as thuribles their incense-smoke.
We see the shoulders and the hinder parts
Of that which never is by face reveal'd-
The ante-natal watcher of the House."

    Waite continues in the PKT, "The card signifies, therefore, the
transit from the manifest light of the world, represented by the
glorious sun of the earth, to the light of the world to come, which
goes before aspiration and is typified by the heart of a child."
    This card symbolizes the transmutation of the light that leads us
into the light that leads us home. There is a light of this world,
moral and ethical codes, religious beliefs, even the beginnings of
real spritual experience. But it will be transformed into the light of
the world to come. For Waite, this transmuting event was Union, a
state of consciouness which produces an ineffible experience of unity
with God. The quester returns to mundane consciousness to find that
the union experience has been life altering, he finds himself
throughly changed. It's as if he is living a new life, the Christ
life, life like a "little child". It goes "before aspiration" because
the mystic aspires to deeper, more permanent experiences and the new
light confirms the way. The ultimate aspiration is uninterrupted union. 
    In "A New Encyclopedia of Freemasonry", the article "Resurrection
and Rebirth", Waite is fairly susinct. He writes that "all true
initiation is concerned with communicating, by the mediation of
symbols, a new life, the pagent of an inward generation." "What is
this process, so indefinable in its nature, ...and so inscrutable in
its workings, as those who are aquainted with it affirm? It is a
quickening, a manifestation, an unfoldment of some new quality of
conscious life, which is at once turned to God and derived from Him.
It is a new form of perception, to which a new order of the world and
a new spirit therein reveals itself and unfolds. The soul no longer
looks in some remote future "to see the good things of the Lord in the
Land of the Living" but moves and has its being among them." 
    This transformed "sun is that of consciousness in the spirit- the
direct as the antithesis of the reflected light". For the quester,
having been quickened, God is perceived without intermediation. Where
once we relied on secondary methods for determining the will of God,
now it is realized directly.
    "In that simplicity, he bears the seal of nature and of Art; in
that innocence he signifies the restored world. When the self-knowing
spirit has dawned in the consciousness above the natural mind, that
mind in its renewal leads forth the animal nature in a state of
perfect conformity." The seal of nature and Art is symbolized in the
red banner, the completed work. The new Sun has risen as a new
life, remade attitudes and priorities that now govern the life of the
completed mystic. And for Waite, this was the completed work. He held
that the doctrines of heaven and hell and physical resurrection were
an embarrasment to the churches (and the Tarot deck!). Man's quest is
to rediscover his high callings. The afterlife (he believed there is)
is for after, now is for union and then deeper union.
    The child-like spirit leads forth the animal of the natural,
mundane life, now perfectly controlled by the will of God. In fact,
the completed mystic is so in control of his steed that "the lithe
wonder of his naked limbs Thrice glorified" are obvious to all.
    This bit from "The Way of Divine Union", p. 314 about the
connection Waite made between the white "vehicle" symbolised by the
horse, the red, objectified in the banner, and the Christ-Life:
    "In the Black State the unredeemed life of sense reaches its
term; the White State is the manifestation of pure soul through all
the vehicles; but the Red State is that of the Spirit in its
splendour, and this is the Christ-Spirit, working also in the
vehicles, the state of espousals and union, of redemption by the
mystical blood of Christ. This is the Great Mystery of the Sanctuary,
the Second Advent, the return of the personal Christ. But all things
are within, the matter and the principle of tincture, the Spirit and
the Redeeming blood. So also sanctity is born within and does not
enter from without."

	And the Ante-Natal Watcher, who leads direct along the lineal
way, leads all the members out of the House. The Tarot Sun goes
before the endless procession of humanity. Eventually, the Sun of
consciousness rises in all.