9. The management of the business of the association is placed in the hands of a directorate of _x_ members, elected for _x_ years by the general meeting, but their appointment can be at any time rescinded. The subordinate business functionaries are nominated by the directorate; but the fixing of the salaries--measured in hours of work--of these functionaries is the business of the general assembly on the proposition of the directorate. 10. The general meeting annually elects a council of inspection consisting of _x_ members, to inspect the books and take note of the manner in which the business is conducted, and to furnish periodical reports. It will strike the reader at once that only with reference to the possible dissolution of an association (section 6) is there a mention of what should apparently be regarded as the principal thing--namely, of the 'property' of the associations and of the claims of the members upon this property. The reason of this is that any 'property' of the association, in the ordinary sense, does not exist. The members, it is true, possess the right of usufruct of the existing productive capital; but as they always share this right with every newly entering member, and are themselves bound to the association by nothing except their interest in the profits of their labour, so there can be no property-interest in the association so long as they are carrying on their work. And, in fact, that which everyone can use cannot constitute property, however useful it maybe. There are no proprietors--merely usufructuaries of the association's capital. And should it be thought that this is in contradiction to the obligation to reimburse the loaned productive capital of the associations, it ought not to be overlooked that even this repayment of capital--except in the already mentioned case of a liquidation--is done by the members merely in their capacity of usufructuaries of the means of production. As the reimbursed capital is derived from the profits, and these are divided among the members in proportion to each one's contribution of work, every member contributes to the reimbursement in proportion to the amount of work he does. And when the subject is looked at more closely it will be seen that the repayments are ultimately derived from the consumers of the commodities produced by the associations; they form, of course, a part of the cost of production, and must necessarily be covered by the price of the product. That this shall take place fully and universally is ensured with infallible certainty by the free mobilisation of labour. A production in which these repayments were not completely covered by the price of the commodities produced would fail to attract labour until the diminished supply of the commodities had produced the requisite rise in price. When the repayments have all been made, this part of the cost of production ceases; the association capital may be regarded as amortised, and the prices of the