The Party's Object...' The establishment of a system of society based upon the common ownership and democratic control of the means and instruments for producing and distributing wealth by and in the interests of the whole community'......was precise and legalistic. Correctness of definition and theory was all-important: in the minds of the men of new party, the failures of the existing organisations were simply the fruits of false theories. For the same reason, the Object did not mention the means of exchange. It was held that socialism, with free access to everything, there would be no exchange of goods; hence, to talk of the common ownership of the means of exchange was to show misunderstanding from the start.