The History of the Surplus Revenue of 1837 Being An Account of Its Origin Its

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76 of the school money was obtained from interest on the surplus. * Mr. Eaton estimates that $15, 000 a year was added to the school income up to 1852 from this source, and from 1852 to 1867 about $30, 000 a year.^ In 1867 the whole income of the fund was appropriated to schools in " an act to establish a system of public instruction. " Art. Ix. Sect. 77, reads: "Be it enacted — That the several townships of the State are authorized and required to appropriate the interest of the surplus revenu...e received by them, and from other funds not raised by tax, such sums for the support of public schools as they shall order and direct at their annual town meetings. " ' The income for education from the surplus was $349, 313. 18 in 1 Acts of 1836-7, 432. ^ Acts, 1839, 158 ; Revis. Of N. J. , 1131-4- ' Am. HXm. , passim, 1852-61. * Nat. Aim. And Ann. Record, 1863, 422.
^ Eaton, 23. ' Laws, 1867, 378 ; Revision of N. J. , 1086.
86 SURPLUS REVENUE.
the eleven years 1866-77, or an average of $31, 755.


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