The final section of the Jena Logic is on Proportion, and I begin by proposing a speculative reconstruction of the difficult transition from the previous section on Relation to this new section. The ultimate fruit of Hegel’s discussion of proportion is the beginning of a first account of the nature of cognition. This first account is formal in the sense that it treats the logical status of cognition’s form and content without giving any account of the actual content of cognition. The treatment of cognition in the section on Proportion is local and relational, and in the transition from Logic to Metaphysics, cognition passes from local and relational to global and absolute. Moving beyond the formal, this global and absolute cognition acquires the status of substance—a status it has always had implicitly, but which will now be developed explicitly and thematically. In the second half of the Metaphysics, it will become subject. As the Logic ends, Hegel applies his radically rewritten categories to cognition in preparation for the Metaphysics ahead.