§4. In most of the states, the schools are supported only in part, in a few of them wholly, at the expense of the states. Some states have provided funds, the income of which is annually applied to this object. _Fund_ generally signifies the money or capital stock employed in carrying on trade or any other business operation. _State funds_ are the moneys and other property of the state which are set apart for paying the expenses of the government, or for the construction of canals, roads, and other public improvements. The interest of these funds, and the income from other sources, are called the _revenue_. §5. In some states, school funds are created by appropriating the public lands, which are lands owned by the state as a body corporate. The proceeds of these lands, from sales or rents, constitute a part or the whole of the school fund, the interest of which is annually applied to the support of schools. If the income from the school fund is insufficient for this purpose, the deficiency may, as is done in some states, be supplied, in whole or in part, by taxation, or from the state treasury. §6. Many of the new states have large school funds. At an early period, while most of the territory from which these states have been formed was yet the property of the United States, and uninhabited, Congress passed an act by which a particular section of land (number sixteen) in every township is reserved for the support of schools therein. By this act, one thirty-sixth part of the lands within each of these states has been thus appropriated, besides smaller portions granted for the benefit of a university in each state. These lands are in the charge of proper officers, who dispose of them, and apply the proceeds as the law directs. §7. The school funds of many of the states have been largely increased by certain moneys received from the United States. In 1837, there had accumulated in the national treasury about thirty millions of dollars over and above what was needed for the support of the government. By an act of congress, this surplus revenue was distributed among the states then existing, to be kept by them until called for by congress. Although congress reserved the right to recall the money, it was presumed that it would never be demanded. That it never will be, is now almost certain. Many of the states have appropriated large portions of their respective shares for school purposes. From its having been said to be only _deposited_ with the states, this fund is sometimes called the _United States deposit fund_.