Here's a breakdown:
* Old English: The word "island" comes from the Old English word "īegland," which is a combination of "īeg" (meaning "island") and "land" (meaning "land").
* Germanic: The word "īeg" itself is derived from Proto-Germanic "*aiwiz" which also means "island".
* Proto-Indo-European: The Proto-Indo-European root is believed to be "*ey-," meaning "water" or "river."
So, the "s" in "island" is a remnant of the Old English "land" part of the word. While it's no longer pronounced, it's still part of the spelling.
It's interesting to note that some other Germanic languages, like German, have retained the "land" part in their words for "island," which are "Insel" and "Eiland" respectively.