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Interpretative activity is a rational cognition of man on objective existence, and when this kind of reason blends with publicness in social field and integrates into public reason of man, in essence, it is the rational cognition of man as subject on materialistic world in life; in practice, it is the spontaneous consciousness of man on the significance, anxiety and construction of his own being. Only in public rational field can the meaning of text be judged correctly and understood，and the interpretation obtain the identity of legitimacy. In the interpretive behavior of human beings, the aims of public reasons are as follows: first, to satisfy the rational cognitive requirement of interpretive subject and make its achievements shared by rational beings;; secondly，to promote the interpretation of object to reach the certainty of meaning and restrict people to interpret metaphysically according to principle of freedom. Due to the general misinterpretation of the practice in interpretive activity, public reason of interpretation adopts value and meaning as a pattern. In the stage of recognizing regulation so as to acquire fact, it is a mixture of cognition, understanding and proving with heterogeneous, coinciding and contradictory textual meaning, which results in the foundation for the rational cognition of the truth. In the stage of ascertain knowledge, it opposes nihilistic interpretation and constructs an interpersonal interpretative and understanding relationship with its public nature to know the commonality of text so as to form the common understanding of the common nature of text