The second important task of the First Congress was the creation of an organization. The Congress was declared to be "the chief organ of the Zionist movement." The basis of electoral right was to be the payment of a shekel, which at that time was equivalent to twenty-five cents. There was to be an Executive Committee with its permanent seat in Vienna. Everything which was to unfold later in Zionism, both in the way of affirmative forces and inner contradictions, was already visible or latent in the first Congress. There was discussion of a bank, of a land redemption fund to be called The National Fund, the creation of a Hebrew University, and the clashes between practical and political Zionism.
On his return to Vienna, Herzl made the following entry in his diary: "If I were to sum up the Basle Congress in a single phrase I would say: In Basle I created the Jewish State. Were I to say this aloud I would be greeted by universal laughter. But perhaps five years hence, in any case, certainly fifty years hence, everyone will perceive it. The state exists as essence in the will-to-the-state of a people, yes, even in that will in a single powerful person.... The territory is only the concrete basis, and the state itself, with a territory beneath it, is still in the nature of an abstract thing ... In Basle I created the abstraction which, as such, is invisible to the great majority."
All that Herzl did in the political field—his conversations in Constantinople, his interview with the Grand Duke of Baden in advance of the holding of the First Congress, was undertaken as author of a political pamphlet. He was now aware of the fact that he was called upon to act as President of the World Zionist Organization. It was difficult to draw a line between the movement and its leader. Herzl insisted that his leadership in the movement was impersonal and that now its direction was vested in its instruments—the Congress and the Actions Committee. But he had all the authority of an accepted leader.