Each has a right to the full return from his labour; this is obtained by free association of the workers. The entrance into each association is free to everyone, and anyone can leave any association at any time. Each member has a right to a share in the net product of the association corresponding to the work done by him. The work done is reckoned for each member in proportion to the number of hours worked. The work done by the freely elected and responsible managers or directors is reckoned, by means of free agreement made with each member of the union, as equal to a certain number of hours' work per day. The profit made by the community is reckoned up at the close of each working year, and after deduction for repayment of capital, and the taxes payable to the "Freeland" commonwealth, is divided amongst its members. The members, in case of the failure or liquidation of the association, are liable for its debts in proportion to their share of the profits. This liability for the debts of the association corresponds, in case of dissolution, to the claim of the guarantor members on the property available. The highest authority of the association is the General Assembly, in which every member possesses the same voting power, active and passive. The conduct of the business of the company is placed in the hands of a directorate, chosen by the General Assembly for a certain period, whose appointment is, however, revocable at any time. Besides this the General Assembly elects every year an overseer who has to watch over the conduct of the directors. There are neither masters nor servants; only free workers; there are also no proprietors, only employers of the capital of the association. The forms of capital necessary for production are therefore as free from owners as is the land. The most extensive publicity of all business proceedings is the prime supposition for the proper working of this organisation, which can only exist by the removal of all hindrances to the free activity of the individual will guided by enlightened self-interest. There can and need be no business secrets; on the contrary, it is the highest interest of all to see that everyone's capacity for work is directed to where it will produce the best results. The working-statements of the producers are therefore published; the purchase and sale of all imaginable products and commodities of "Freeland" trade takes place in large warehouses, managed and supervised for the benefit of the community. The highest authority in "Freeland" is at the same time the banker of the whole population. Not merely every association, but every person has his account in the books of the Central Bank, which looks after all payments inwards as well as all money paid out from the greatest to the smallest by means of a comprehensive clearing system.