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Thought for the Month – Debit or Credit?

2 Corinthians 5:21 ‘For he hath made him to be sin for us, who knew no sin; that we might be made the righteousness of God in him.’

Last week I lodged a cheque through the bank’s app on my phone. As normal, a few days later the amount was credited to my account but I then noticed it was taken out. The reason given was that the payee name on the cheque did not match the name on my account due to a missing ‘e’ at the end of my surname. A visit to a branch of the bank sorted the problem.

Some years ago, I also experienced trouble with an account, due to a misspelling of my name. I received a letter warning that unless I immediately paid a long-overdue debt, legal action would be taken against me. We searched drawers and found the relevant invoice marked, “paid”. Upon entering the company’s office and stating my name, I was informed my account had not been settled. With a feeling of smugness, I presented the receipt and accepted their apology.

They had recorded two accounts for me, one with and the other without the ‘e’ at the end of my surname.

It was a relief to know my financial debt was clear.

It is a far greater relief to know that my debt of sin has been cleared.

The hymn Rock of Ages was first published in an article by Augustus Toplady. In it, he compared the sins of the average individual to the national debt of Britain. To underline the impossibility of paying the debt of even one sin, he penned the lines: -

Could my zeal no respite know

Could my tears forever flow.

All for sin could not atone.

Thou must save and thou alone.

How God saves those who trust in Christ as Saviour is illustrated in Scripture by the use of banking terminology.

At Calvary, God made Christ sin for us, He ‘imputed’ or placed the debt of our sin upon the sinless Saviour.

All my iniquities on Him were laid,

All my indebtedness by Him was paid;

God also ‘imputes’ or credits to the believing sinner’s account the perfect righteousness of Christ. Therefore, by faith, we are justified or declared righteous in Christ before a Holy God.

No wonder David wrote blessed or happy is the person unto whom the LORD ‘imputes’ not iniquity Psalm 32:2.

By Bro. Rev. Dr Ron Johnstone, Grand Chaplain


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