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 International
Financial Reporting
A Practical Guide
Eighth edition

Alan Melville
FCA, BSc, Cert. Ed.

Harlow, England • London • New York • Boston • San Francisco • Toronto • Sydney • Dubai • Singapore • Hong Kong
Tokyo • Seoul • Taipei • New Delhi • Cape Town • São Paulo • Mexico City • Madrid • Amsterdam • Munich • Paris • Milan

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 PEARSON EDUCATION LIMITED
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First published 2008 (print)

Second edition published 2009 (print)
Third edition published 2011 (print)
Fourth edition published 2013 (print and electronic)
Fifth edition published 2015 (print and electronic)
Sixth edition published 2017 (print and electronic)
Seventh edition published 2019 (print and electronic)
Eighth edition published 2022 (print and electronic)

© Pearson Professional Limited 2008, 2011 (print)

© Pearson Education Limited 2013, 2022 (print and electronic)

The right of Alan Melville to be identified as author of this work has been asserted by him in accordance with the Copyright,
Designs and Patents Act 1988.

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Pearson Education Limited with the permission of the IFRS Foundation. No permission granted to third parties to reproduce or
distribute. For full access to IFRS Standards and the work of the IFRS Foundation please visit http://ifrs.org

The International Accounting Standards Board®, the IFRS Foundation, the authors and the publishers do not accept responsi-
bility for any loss caused by acting or refraining from acting in reliance on the material in this publication, whether such loss is
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ISBN: 978-1-292-43942-6 (print)

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 Contents

Preface ix 3 Presentation of financial statements 37

Acknowledgements x Purpose of financial statements 38
List of international standards xi Components of financial statements 38
General features 39
Part 1 Introduction to Financial Reporting Structure and content of financial
statements 41
1 The regulatory framework 3 The statement of financial position 42
The need for regulation 4 The statement of comprehensive
Sources of regulation 4 income 46
Generally accepted accounting practice 6 The statement of changes in equity 51
The International Accounting Standards The notes to the financial statements 53
Board 7 Interim financial reporting 54
The IASB® standard-setting process 9 Management commentary 55
The purpose of accounting standards 10 Making materiality judgements 56
Worldwide use of international Exposure Draft ED/2019/7 58
standards 11 4 Accounting policies, estimates and
First-time adoption of international errors 68
standards 12
Accounting policies 68
The International Sustainability
Accounting estimates 73
Standards Board 14
Prior period errors 73
2 The IASB conceptual framework 17
Purpose and status of the IASB Part 2 Financial Reporting in Practice
Conceptual Framework 18
Objective of general purpose financial 5 Property, plant and equipment 83
reporting 19 Definition of property, plant and
Qualitative characteristics of financial equipment 84
information 21 Recognition of property, plant
Financial statements and the reporting and equipment 85
entity 24 Initial measurement of property, plant
Elements of financial statements 25 and equipment 87
Recognition of the elements of Subsequent measurement of property,
financial statements 27 plant and equipment 88
Measurement of the elements of Depreciation 90
financial statements 28 Disclosure requirements 94
Presentation and disclosure 30 Borrowing costs 95
Concepts of capital and capital Government grants 97
maintenance 30 Investment property 100
Discounting and present value 34 IFRS13 Fair Value Measurement 103

v
Contents

6 Intangible assets 108 Subsequent measurement of financial

Definition of an intangible asset 109 assets 187
Initial recognition and measurement The effective interest method 188
of intangible assets 110 Subsequent measurement of financial
Subsequent measurement of liabilities 190
intangible assets 114 Disclosure requirements 191
Amortisation of intangible assets 116
12 Provisions and events after the
Derecognition 118
Disclosure requirements 118 reporting period 196
Goodwill 119 Recognition of a provision 197
IFRS3 Business Combinations 120 Measurement of a provision 199
Application of the recognition and
7 Impairment of assets 126 measurement rules 200
Indications of impairment 127 Contingent liabilities and contingent
Recoverable amount 128 assets 202
Recognition and measurement of an Disclosure requirements 203
impairment loss 131 Events after the reporting period 204
Cash-generating units 132
Reversal of impairment losses 136 13 Revenue from contracts with
Disclosure requirements 137 customers 210
Purpose and scope of IFRS15 211
8 Non-current assets held for sale The five-step model 211
and discontinued operations 142 Identifying the contract 212
Classification of non-current assets Identifying performance obligations 214
as held for sale 143 Determining the transaction price 215
Measurement of non-current assets Allocating the transaction price 217
held for sale 145 Satisfaction of performance
Presentation of non-current assets obligations 218
held for sale 149 Contract costs 219
Discontinued operations 150 Presentation and disclosure 220
9 Leases 156 Guidance to the application of IFRS15 222
Definition of a lease 157 14 Employee benefits 226
Lease accounting by lessees 158 Short-term employee benefits 227
Lease accounting by lessors 162 Post-employment benefits 229
Sale and leaseback transactions 165 Accounting for defined contribution
10 Inventories 170 plans 229
Inventories 171 Accounting for defined benefit plans 230
Cost of inventories 171 Other long-term employee benefits 235
Cost formulas 173 Termination benefits 235
Net realisable value 176 Share-based payments 236
Disclosures relating to inventories 177
15 Taxation in financial statements 242
11 Financial instruments 181 Current tax 243
Definitions 182 Deferred tax 245
Classification of financial instruments 183 The tax base concept 247
Recognition and measurement 186 IAS12 requirements with regard to
Initial measurement of financial assets deferred tax 252
and liabilities 186 Disclosure requirements 252

vi
 Contents

16 Statement of cash flows 259 Joint arrangements 354

Cash and cash equivalents 260 Disclosure requirements 355
Classification of cash flows by activity 261
21 Related parties and changes in
Interest, dividends and taxes 262
Reporting cash flows from foreign exchange rates 361
operating activities 263 Related parties 362
Disclosures 270 Definition of related party and related
Exposure Draft ED/2019/7 271 party transaction 362
Disclosures required by IAS24 364
17 Financial reporting in Foreign exchange accounting 365
hyperinflationary economies 285 Reporting foreign currency
Historical cost accounting and transactions 366
its weaknesses 286 Translation to a presentation currency 368
Strengths of historical cost accounting 291
Alternatives to historical cost
accounting 292 Part 4 Analysis of Financial Statements
Hyperinflationary economies 293
22 Ratio analysis 375
The restatement of financial
Accounting ratios 376
statements 293
Profitability ratios 377
Disclosures required by IAS29 298
Liquidity ratios 381
Efficiency ratios 383
Part 3 Consolidated Financial Statements Investment ratios 386
Limitations of ratio analysis 393
18 Groups of companies (1) 303 Multivariate ratio analysis 394
Requirement to prepare consolidated
financial statements 304 23 Earnings per share 404
Group statement of financial position Significance of EPS 404
at date of acquisition 305 Calculation of basic EPS 405
Group statement of financial position Shares issued during the accounting
in subsequent years 309 period 407
Partly-owned subsidiaries 312 Bonus issues 409
Preference shares 315 Rights issues 410
Elimination of intra-group balances 317 Calculation of diluted EPS 413
Unrealised profits 318 Presentation and disclosure
Reporting period and accounting requirements 415
policies 319
Disclosure requirements 319 24 Segmental analysis 421
Operating segments 422
19 Groups of companies (2) 328 Reportable segments 422
Group statement of comprehensive Disclosures required by IFRS8 424
income 329
Group statement of changes in equity 329
Subsidiary acquired part way through Part 5 Small and Medium-sized Entities
an accounting period 335
25 The IFRS for SMEs® Standard 433
20 Associates and joint arrangements 345 Small and medium-sized entities 434
Associates and significant influence 346 Concepts and pervasive principles 435
The equity method 347 Financial statement presentation 436
Application of the equity method 347 Statement of financial position 437

vii
Contents

25 The IFRS for SMEs Standard (cont.) Liabilities and equity 443
Statement of comprehensive income Revenue 443
and income statement 437 Government grants 444
Statement of changes in equity and Borrowing costs 444
Statement of income and retained Share-based payment 444
earnings 438 Impairment of assets 444
Statement of cash flows 438 Employee benefits 445
Notes to the financial statements 438 Income tax 445
Consolidated and separate financial Foreign currency translation and
statements 439 Hyperinflation 445
Accounting policies, estimates and Events after the end of the reporting
errors 439 period 445
Financial instruments 440 Related party disclosures 446
Inventories 440 Specialised activities 446
Investments in associates and Transition to the IFRS for SMEs
joint ventures 440 Standard 446
Investment property 441
Property, plant and equipment 441 Part 6 Answers
Intangible assets other than goodwill 442
Business combinations and goodwill 442 Answers to exercises 449
Leases 442
Provisions and contingencies 442 Index 513

viii
 Preface

The purpose of this book is to explain International Financial Reporting Standards (IFRS®
Standards) and International Accounting Standards (IAS® Standards) at a level which is
appropriate for students who are undertaking an intermediate course of study in financial
reporting. It is assumed that the reader has already completed an introductory accounting
course and is therefore familiar with the basics of financial accounting. The book has not
been written with any specific syllabus in mind but should be useful to second-year under-
graduates studying for a degree in accounting and finance and to those who are preparing
for the examinations of the professional accounting bodies.
IFRS Standards and IAS Standards (referred to in this book as "international standards")
have gained widespread acceptance around the world and most accountancy students are
now required to become familiar with them. The problem is that the standards and their
accompanying documentation occupy over 4,000 pages of fine print and much of this
content is highly technical and difficult to understand. What is needed is a textbook which
explains each standard as clearly and concisely as possible and then provides students with
plenty of worked examples and exercises. This book tries to satisfy that need.
The standards are of international application but (for the sake of convenience) most of
the monetary amounts referred to in the worked examples and exercises in this book are
denominated in £s. Other than this, the book contains very few UK-specific references and
should be relevant in any country which has adopted international standards.
Each chapter of this book concludes with a set of exercises which test the reader's grasp
of the topics introduced in that chapter. Some of these exercises are drawn from the past
examination papers of professional accounting bodies. Solutions to most of the exercises
are located at the back of the book but solutions to those exercises which are marked with
an asterisk (*) are intended for lecturers' use and are provided on a supporting website.
This eighth edition is in accordance with all international standards and amendments to
standards issued as at 1 January 2022.
Alan Melville
February 2022

ix
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 Acknowledgements
I would like to thank the IFRS® Foundation for permission to use extracts from various
IASB® standards. This publication contains copyright material of the IFRS® Foundation in
respect of which all rights are reserved. Reproduced by Pearson Education Limited with the
permission of the IFRS Foundation. No permission granted to third parties to reproduce or
distribute. For full access to IFRS Standards and the work of the IFRS Foundation, please
visit http://ifrs.org.
The International Accounting Standards Board®, the IFRS Foundation, the authors and the
publishers do not accept responsibility for any loss caused by acting or refraining from
acting in reliance on the material in this publication, whether such loss is caused by negli-
gence or otherwise.
I would also like to thank the following accounting bodies for granting me permission to
use their past examination questions:
4 Association of Chartered Certified Accountants (ACCA)
4 Chartered Institute of Public Finance and Accountancy (CIPFA)
4 Association of Accounting Technicians (AAT).
I must emphasise that the answers provided to these questions are entirely my own and are
not the responsibility of the accounting body concerned. I would also like to point out that
the questions which are printed in this textbook have been amended in some cases so as to
reflect changes in accounting standards which have occurred since those questions were
originally published by the accounting body concerned.
Please note that, unless material is specifically cited with a source, any company names
used within this text have been created by me and are intended to be fictitious.
Alan Melville
February 2022

x
 List of international standards

A full list of the International Financial Reporting Standards (IFRS® Standards) and the
International Accounting Standards (IAS® Standards) which are in force at the time of
writing this book is given below. Standards missing from the list have been withdrawn.
Alongside each standard is a cross-reference to the relevant chapter of the book.
It is important to appreciate that new or modified standards are issued fairly often. The
reader who wishes to keep up-to-date is advised to consult the website of the International
Accounting Standards Board (IASB®) at www.ifrs.org.

International Financial Reporting Standards Chapter

IFRS 1 First-time Adoption of International Financial Reporting Standards 1
IFRS 2 Share-based Payment 14
IFRS 3 Business Combinations 6, 18
IFRS 5 Non-current Assets Held for Sale and Discontinued Operations 8
IFRS 6 Exploration for and Evaluation of Mineral Resources –
IFRS 7 Financial Instruments: Disclosures 11
IFRS 8 Operating Segments 24
IFRS 9 Financial Instruments 11
IFRS 10 Consolidated Financial Statements 18, 19
IFRS 11 Joint Arrangements 20
IFRS 12 Disclosure of Interests in Other Entities 18, 20
IFRS 13 Fair Value Measurement 5
IFRS 14 Regulatory Deferral Accounts –
IFRS 15 Revenue from Contracts with Customers 13
IFRS 16 Leases 9
IFRS 17 Insurance Contracts –
IFRS for Small and Medium-sized Entities 25
SMEs
International Accounting Standards
IAS 1 Presentation of Financial Statements 3
IAS 2 Inventories 10
IAS 7 Statement of Cash Flows 16
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors 4

xi
List of International Standards

IAS 10 Events after the Reporting Period 12

IAS 12 Income Taxes 15
IAS 16 Property, Plant and Equipment 5
IAS 19 Employee Benefits 14
IAS 20 Accounting for Government Grants and Disclosure of Government 5
Assistance
IAS 21 The Effects of Changes in Foreign Exchange Rates 21
IAS 23 Borrowing Costs 5
IAS 24 Related Party Disclosures 21
IAS 26 Accounting and Reporting by Retirement Benefit Plans –
IAS 27 Separate Financial Statements 18
IAS 28 Investments in Associates and Joint Ventures 20
IAS 29 Financial Reporting in Hyperinflationary Economies 17
IAS 32 Financial Instruments: Presentation 11
IAS 33 Earnings per Share 23
IAS 34 Interim Financial Reporting 3
IAS 36 Impairment of Assets 7
IAS 37 Provisions, Contingent Liabilities and Contingent Assets 12
IAS 38 Intangible Assets 6
IAS 40 Investment Property 5
IAS 41 Agriculture –
It should be noted that some of these standards are beyond the scope of this book and are
considered no further here. These are IFRS6, IFRS14, IFRS17, IAS26 and IAS41.
As well as the international standards, three further IASB documents (none of which are
standards) are dealt with in this book. These are:
(a) the Conceptual Framework for Financial Reporting (see Chapter 2) which sets out a
number of concepts that underlie financial reporting and which is referred to by the
IASB during the development of new and amended standards
(b) IFRS Practice Statement 1 Management Commentary, which provides a broad, non-
binding framework for the presentation of a management commentary to accompany a
set of financial statements (see Chapter 3)
(c) IFRS Practice Statement 2 Making Materiality Judgements, which provides guidance
on the making of materiality judgements when preparing general purpose financial
statements (see Chapter 3).

xii
Part 1

INTRODUCTION TO FINANCIAL
REPORTING
 Chapter 1

!"#$%#&'()*+%,$-%).#/+%0$

Introduction
Financial reporting is the branch of accounting that deals with the preparation of financial
statements. These statements provide information about the financial performance and
financial position of the business to which they relate and may be of value to a wide range
of user groups. More specifically, the term "financial reporting" is most often used to refer
to the preparation of financial statements for a limited company. In this case, the principal
users of the statements are the company's shareholders. However, the information which is
contained in financial statements may also be of use to other user groups such as lenders,
employees and the tax authorities (see Chapter 2).
The purpose of this book is to explain the rules which govern the preparation of financial
statements for organisations which comply with international standards. This first chapter
introduces the regulatory framework within which financial statements are prepared. The
next chapter outlines the main features of a conceptual framework setting out the main
concepts which underlie financial reporting.

Objectives
By the end of this chapter, the reader should be able to:
• list the main sources of accounting regulations and explain the need for regulation
• explain the term "generally accepted accounting practice" (GAAP)
• outline the structure and functions of the International Accounting Standards Board
(IASB®) and its associated bodies
• explain the purpose of an accounting standard and list the main steps in the standard-
setting process adopted by the IASB
• outline the structure of an international financial reporting standard or international
accounting standard
• explain the main features of IFRS1 First-time Adoption of International Financial
Reporting Standards.

3
PART 1: Introduction to Financial Reporting

The need for regulation

Small business organisations are usually managed by their owners. This is generally the
situation for sole traders, where the business is run by a single owner-manager, and for
partnerships, where the business is owned and managed by its partners. Similarly, small
private limited companies are often managed by their shareholders, who might all be
members of the same family. In these circumstances, the owner or owners of the business
can normally glean considerable amounts of financial information from their day-to-day
involvement in managing its affairs and so do not depend solely upon formal financial
statements to provide them with this information.
In contrast, large businesses (which are usually limited companies) are generally owned
by one group of people but are managed by a different group. A large public company is
owned by its shareholders, of whom there may be many thousands, but is managed by a
small group of directors. Although some of the shareholders may also act as directors, it is
likely that the large majority of the shareholders have no direct involvement in managing
the company which they own. Such shareholders are almost entirely reliant upon the
company's financial statements for information regarding their company's financial
performance and position and to help them determine whether or not the company is being
properly managed. Other external user groups (such as the company's creditors) are also
dependent to a large extent upon the information contained in financial statements when
trying to make economic decisions relating to the company.
If the form and the content of financial statements were not regulated, it would be possible
for incompetent or unscrupulous directors to provide shareholders and other users with
financial statements which gave a false or misleading impression of the company's financial
situation. This would inevitably cause users to make poor economic decisions and so
undermine the whole purpose of preparing financial statements. Therefore it is vitally
important, especially in the case of larger companies, that financial reporting should be
subject to a body of rules and regulations.

Sources of regulation

The rules and regulations which apply to financial reporting may be collectively referred to
as the "regulatory framework". In practice, most of this framework applies only to
companies, but it is important to realise that financial reporting regulations could be made
in relation to any class of business entity. Indeed, the international standards which are the
subject of this textbook generally refer to "entities" rather than companies. However, it may
be assumed for the remainder of the book that we are dealing primarily with financial
reporting by companies. The regulatory framework which applies to financial reporting by
companies consists of the following main components:
(a) legislation
(b) accounting standards

4
 CHAPTER 1: The Regulatory Framework

(c) stock exchange regulations.

Each of these is explained below.

Legislation
Most of the developed countries of the world have enacted legislation which governs
financial reporting by limited companies. This legislation does of course differ from one
country to another. In the UK, for example, the Companies Act 2006 contains rules which
relate to matters such as:
• the accounting records which companies must keep
• the requirement to prepare annual accounts (i.e. financial statements)
• the requirement that these accounts must give a "true and fair view"
• the requirement that the accounts must be prepared in accordance with either UK
national standards or UK-adopted international standards†
• certain information which must be provided in the notes to the accounts
• the duty of the directors to prepare a strategic report, a directors' report and (for quoted
companies) a director's remuneration report
• the circumstances in which group accounts must be prepared (see Chapter 18)
• the circumstances in which an audit is required
• the company's duty to circulate its accounts to shareholders and (for quoted companies)
to make the accounts publicly available on a website.
† The distinction between national and international standards is explained below. The notion of
UK-adopted international standards is considered later in this chapter.

Accounting standards
Whilst legislation generally sets out the broad rules with which companies must comply
when preparing financial statements, detailed rules governing the accounting treatment of
transactions and other items shown in those statements are laid down in accounting
standards. Many of the developed countries of the world have their own standard-setting
bodies, each of which is responsible for devising and publishing accounting standards for
use in the country concerned. In the UK this is the Financial Reporting Council (FRC). The
USA has a Financial Accounting Standards Board (FASB) and there are standard-setters in
other countries such as Germany, Japan, Australia etc.
However, the increasing globalisation of business has fuelled the search for one single set
of accounting standards. These standards would apply throughout the world and would
greatly improve the consistency of financial reporting. To this end, the International
Accounting Standards Board (IASB®) has developed and is continuing to develop a set of
international standards which it hopes will attain global acceptance. These standards are
already used in a great many countries of the world (see later in this chapter).
Most of the remainder of this book is concerned with the international standards and an
introduction to the work of the IASB is given later in this chapter.

5
PART 1: Introduction to Financial Reporting

Stock exchange regulations

A company whose shares are listed (or "quoted") on a recognised stock exchange must
comply with the regulations of that stock exchange, some of which may relate to the
company's financial statements. A stock exchange may, for example, require its member
companies to produce financial statements more frequently than required by law (e.g. to
publish interim financial reports at quarterly or half-yearly intervals) or to provide a more
detailed analysis of some of the items in its financial statements than is required by law or
by accounting standards.

Generally accepted accounting practice

The term "generally accepted accounting practice" (GAAP) refers to the complete set of
regulations (from all sources) which apply within a certain jurisdiction, together with any
general accounting principles or conventions which are usually applied in that jurisdiction
even though they may not be enshrined in regulations. Since accounting rules and
regulations may still differ from one country to another, it is correct to use terms such as
"UK GAAP", "US GAAP" and so forth. At present, there is no globally accepted set of
accounting regulations and principles but the IASB is working towards that goal and is
trying to achieve a convergence between the various regulations which are in force through-
out the world (see later in this chapter). The term "international GAAP" is used to refer to
the standards issued by the IASB and the principles on which those standards are based.
A distinction is sometimes drawn between big GAAP and little GAAP, as follows:
(a) The term "big GAAP" refers to the accounting regulations which apply to large
companies (generally listed companies). The financial affairs of these companies can
be very complex and therefore the regulations concerned need to be correspondingly
complex. Some of the international standards described in this book appear to have
been written mainly with large companies in mind.
(b) The term "little GAAP" refers to the simpler accounting regulations which apply to
smaller companies. In the UK, for instance, standard FRS102 (the main UK national
financial reporting standard) contains special rules for "small entities". Furthermore,
"micro-entities" may choose to adopt FRS105 The Financial Reporting Standard
applicable to the Micro-entities Regime, rather than complying with FRS102.
At the international level, the IASB has issued the IFRS for SMEs® Standard. This
standard is essentially a simplified version of the full international standards and is
intended for use by small and medium-sized entities (mainly unlisted companies). A
brief summary of the SMEs standard is given in Chapter 25 of this book.

6
 CHAPTER 1: The Regulatory Framework

The International Accounting Standards Board

International standards are developed and published by the International Accounting

Standards Board (IASB) which was formed in 2001 as a replacement for the International
Accounting Standards Committee (IASC). Standards published by the IASB are known as
International Financial Reporting Standards (IFRS® Standards). The standards that were
published by the IASC are International Accounting Standards (IAS® Standards). Many of
these IAS Standards are still in force, since they were adopted by the IASB when it was
formed. At present, the list of extant standards comprises sixteen IFRS Standards and
twenty-four IAS Standards. A full list of the standards is given at the front of this book.
The IASB consists of fourteen members, of whom up to three may be part-time. The
members of the IASB are chosen for their professional competence and their relevant
experience and are selected in such a way that a broad geographical balance is maintained
on the Board. The current Chair of the IASB is Andreas Barckow, who succeeded Hans
Hoogervorst on 1 July 2021.
The IASB is responsible to the Trustees of the IFRS Foundation, as is shown in the
following diagram:

IFRS Foundation

IFRS Advisory International IFRS Interpretations

Council Accounting Standards Committee
Board

As well as the bodies shown in this diagram, the IFRS Foundation has also established a
further body known as the International Sustainability Standards Board (ISSB®). So as to
distinguish between financial reporting standards issued by the IASB and sustainability
standards issued by the ISSB, the IFRS Foundation constitution refers to standards issued
by the IASB as "IFRS Accounting Standards" and standards issued by the ISSB as "IFRS
Sustainability Disclosure Standards".
This book is almost entirely concerned with IFRS Accounting Standards but the role of
the ISSB in developing IFRS Sustainability Disclosure Standards is explained briefly at the
end of this chapter.

7
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Exploring the Variety of Random
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The Project Gutenberg eBook of Christ the
True Melchisedec
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Title: Christ the True Melchisedec

Author: J. Church

Release date: January 3, 2019 [eBook #58603]

Language: English

Credits: Transcribed from the 1813 R. Thomas edition by David Price

*** START OF THE PROJECT GUTENBERG EBOOK CHRIST THE

TRUE MELCHISEDEC ***
Transcribed from the 1813 R. Thomas edition by David Price, email
ccx074@pglaf.org

CHRIST
THE TRUE MELCHISEDEC.

BEING THE SUBSTANCE

OF A

SERMON,
Preached on SUNDAY Evening, JULY 24th, 1813,
At the Obelisk Chapel.

BY J. CHURCH,
MINISTER OF THE GOSPEL.

“Your Father Abraham rejoiced to see my day—he saw it and

was glad.” John viii, 56.

“He will bless the House of Israel—he will bless the House of
Aaron.” Psalm cxv.—
PRINTED BY R. THOMAS, 11, RED LION STREET, BOROUGH

1813.
 CHRIST THE TRUE MELCHISEDEC.

“Now consider how great this Man was.”—Heb. vii, 4.

The sacred pages are an exhibition of the loving heart of a covenant

God, Father, Son, and Spirit; from whence flow all the blessings of
eternal life to guilty man. All spring from love, for God is love—he is
love itself, the fountain of it. He loves himself, his Son, and the
eternal Spirit—it is a perfection of his nature, boundless and
incomprehensible. This eternal Three in the One Jehovah, hath
condescended of his sovereign goodwill and pleasure, to love and
chuse millions of men, though fallen and depraved, guilty and hell-
deserving—yet in a way of mercy, pity, and compassion, determined
to shew how far this love could go—the Covenant of Redemption
being made in eternity, wherein the Father proposed to call his dear
Son to engage in the Work of Salvation—the Son as graciously
accepting, offering himself to be all, and do all in the great Work of
Redemption, it was purposed he should assume the nature of his
people—for this grand purpose, that he might represent them, obey,
suffer, and die for them; for which he should be glorified in that
nature—see the travail of his soul, and be delighted with all the
happy consequences of his Work. This being settled in infinite
wisdom, our dear Lord anticipated the pleasure of it before the world
began—My delights were with the Sons of Men.
On the sixth day of the creation he formed his creature, Man, in the
image in which he intended to appear four thousand years after. His
heart was so intent upon this great Work, that directly after the Fall,
yea, the very same day that Adam sinned, the dear Redeemer
hastened to make known the Covenant of Redemption and Mercy—
and even before he pronounced the Curse in consequence of
transgression, he pronounced the Blessing!
Adam heard the voice of the Lord God walking in the Garden—the
WORD that was to be made flesh, that spoke for us in the Covenant
—he came, and foretold his future incarnation—promised victory,
and threatened Satan, who was the instigation of the Fall. He
frequently manifested his gracious intention—proved himself to be
the glorious Mediator, and that he longed to become incarnate, to
manifest his grace by dying in our stead. In the act of cloathing our
guilty parents, he shewed himself the end of the Law for
Righteousness. In Abel’s Person and Offering, he shewed himself
the acceptable Sacrifice—the Lamb to take away sin. In the Person
of Noah, the Ark he built, the Sacrifice he offered, the Covenant
made with him in the Rainbow (as the outward sign of it) were
sweet tokens of him who is mighty to save. The Blessing of Shem,
clearly pointed out his gracious intention—God shall enlarge Japheth,
and HE (God) shall dwell in the tents of Shem. The Word was made
flesh, and dwelt among us.
He afterwards singles out Abram, the Father of the Faithful, (of the
line of Shem) called him out of darkness, favored him with several
glorious visions of himself, as predicting his future incarnation, for he
saw his day and was glad. Abraham, under peculiar leadings of
Providence, was for a season, situated at Mamre, where he built an
altar to the Lord. This Mamre was in Kirath-Arba, afterwards called
Hebron, where David reigned for a season. But, alas, a christian is
seldom long at ease; we have no continuing city, we seek one to
come—no place, or house, or family, is free from trouble long
together, from the palace to the most retired cot. Sad news was
brought to Abraham, that his nephew, Lot, was taken prisoner, and
almost all his goods seized, by Cherdorlaomer and his allies, who
were at that time ravaging the country. Abraham directly took his
servants and friends and pursued the enemy to Hobah, and overtook
their captives and the booty, and of course restored Lot.
When Abraham was returning from routing Chedorlaomer and his
allies, Melchisedec met him in the valley of Shaveh, in the King’s
Dale, and tendered to him and his weary troops, a refreshment of
bread and wine. He also blessed Abraham, and thanked God for
giving him the victory. Abraham acknowledged him the Priest of the
Most High God, and gave him the tenth part of the spoil. Perhaps
this was to shew God’s approbation of Abraham’s conduct, and to
point out the future victories of our Lord Jesus Christ on the Cross,
in the hearts of his people, and, finally, over mystical Babylon, and
its kings—the recovery of his elect, who lay in the hands of Satan,
Sin, and Law; and of whom the Father had covenanted with his dear
Son, that he should divide the spoil with the strong, because he
poured out his soul unto death. While all who are interested in this
great Work must exclaim, Unto him that washed us from sin in his
own blood, to him be glory. Amen.
Now consider how great this Man was, to whom Abraham gave the
tenth of the spoil, and that blessed Abraham; and truly the less is
blessed of the greater. May God the Holy Spirit assist us in our
views of this great Man, the God-man Mediator, the Priest, the King,
the All in All.
We shall notice the opinion of others. We propose then to examine
the Scripture testimony of this great One, and to answer the
objections which rise in the mind, concerning the reality of this
Person being Lord and Christ. We shall finally notice the Nature of
his Blessings.
I believe the general opinion of this great Man is, that he was some
King of Canaan, who was a good man, but whose genealogy cannot
be traced. The Jews and Samaritans will have him to be Shem, their
ancestor. The Arabians suppose him to be Ham. Dr. Owen will have
him to be a descendant of Japhet; but how a descendant of Japhet
came to be a king of Canaan, I know not. Some are inclined to
think he fell from the Moon. But all these ideas are too mean, and
none of them agree with what the Holy Ghost has said of him. Many
years ago there was a Sect of Melchisedecian Heretics, who held
that he was some celestial power or virtue not revealed; but that he
was superior to Christ, and made intercession for angels, as the
Saviour did for Men. The most general opinion is that he was merely
a figure or type of our dear Lord; but we are about to prove he was
more than the figure—he was the adorable Redeemer himself. We
are not to make any thing in Scripture a type when the Scripture
declares it is a substance, and infinitely exceeds all the figures. Our
dear Lord is certainly represented by many figures, but in the case
before us he is not; for the Apostle, treating upon the Subject, not
considering it as mystical but real. He is not explaining a mystery,
but merely commenting upon a reality. Now consider how great this
Man was.—Perhaps no subject in the Bible has had a greater
diversity of opinions than this, and the reason is, because Men are
so dissatisfied with the Spirit’s testimony concerning him: let us
therefore notice the Apostle’s own words, and follow him in his
comment, and there rest satisfied. This will lead us to answer a few
objections as we proceed.
The Apostle in this grand Epistle, is setting before the believing
Hebrews the Dignity, Majesty, and Glory of Christ, as the Christ of
God. He first proves him to be God over all, equal with the Father in
power and glory, in all his essential attributes. He then shews how
far he excels the angels, they being the work of his hands, and he
their great Creator; and having accomplished the great Work of
Atonement, he has entered into his joy, and is now representing our
Persons before the throne; and as our great High Priest, still
pleading the virtue of what he has done, before the Father. In the
three following Chapters he shews the necessity there was that
Jesus, our great High Priest, should be tried by temptation, that he
might know how to succour the tempted—that his people, by
believing, might find a Sabbath of Rest in him, he encourages them
to hold fast their profession, seeing our great High Priest is passed
into the heavens for them; and as he knew what sore temptations
meant, they might warranty apply to him for all that grace they
wanted in time of need. This is sweet encouragement to the Lord’s
tried ones.
In the 5th Chapter, the Apostle carries on the subject of the Priestly
Office of Christ, knowing it to be of such vast importance to the
Church. He shews the commission of Jesus to act as High Priest,
and they, the Hebrews, well knew that no man had a right to this
Office but he that was called of God, as was Aaron. So our dear
Lord was called to it in the Covenant, in which the Father glorified
him, and as God-Man Mediator, called him Son, and told him he
should be a Priest for ever, after a peculiar Order, that is, of
Melchisedec: his own Order, not of Levi or Aaron’s, but his own
divine Order.—The Apostle then complains of these Believers, they
were dull of apprehension, or else he would tell them many more
very great things; but they had had the Gospel preached to them
nearly thirty years, yet had made little or no progress in the things
of God. He complains that they were but babes in knowledge,
unskilful, weak, and had got no further than the first principles of
the christian Religion, which he begs they will leave, and press after
greater lessons in the School of Christ, namely, The final
Perseverence of God’s elect, though they might backslide, and even
some of them go such sad lengths, as even to give up their
profession for a time, that nothing short of the precious blood of
Christ applied to their hearts by the Spirit, could ever renew them to
Gospel repentance. Ministers could not—they could not do it
themselves—but a sight of Christ, put to open shame for them,
would ever accomplish it.
The Apostle proceeds to stimulate them to persevere in the good
ways of God, notwithstanding their weakness, sins, infirmities,
strange feelings, and at times, want of confidence—no heart to pray
or believe, but all deadness, darkness, and sorrow; amidst all
oppositions, yet to keep on, encouraged by this, that a covenant
God had provided every needful mercy in Christ; that he has
covenanted with him, and all his seed in him, that they might have
hope in his faithfulness, and not in their own feelings or experience,
which would waver, or change. But for the further encouragement
of that hope, he would have them remember, that Christ is their
Head and Representative—that the Father’s love is the same to them
as to him; that Christ and they are one; that they are beheld in him
complete; and that as their High Priest, he is perfect—done a perfect
Work; that he ever lives, and that his great Work he is now doing in
heaven, and will live to do for ever, is simply, to bless his people, as
he blessed their father, Abraham, when he returned from battle.
And now, oh ye believing Hebrews, Consider how great this man
was to whom Abraham gave a tenth part of the spoil.
Passing by the curious conjectures of men, let us attend to the mind
of the Spirit, and by close attention it will be clearly seen that the
Melchisedec which met Abraham was the adorable Redeemer
himself. We begin with the 6th verse of me 5th Chapter—As he
saith also in another place, THOU art a Priest for ever, after the
Order of Melchisedec, WHO in the days of HIS flesh, offered up
strong cries and tears to God, and was heard in that HE feared—
though HE were a SON, yet learned HE obedience by the things
which HE suffered, and being made perfect, HE became the author
of eternal salvation to all that obey HIM; called of God an High
Priest, after the Order of Melchisedec—of whom we have many
things to say, and hard to be uttered, seeing ye are dull of hearing.
Can any point be more clear than this; The terms Thou, Who, He, a
Son, Him, in the days of his flesh—and surely if Melchisedec had
been a mere Man, Paul would not have complained of the Hebrews
being dull of understanding this Subject, of God manifest in the
flesh, before his incarnation, when he met Abraham, and afterwards
by actually taking our nature.
I would observe the connection between the last verse of the 6th
Chapter, and the opening of the 7th. The Apostle, encouraging
Believers, who fled for refuge, tells them their fore-runner is gone to
heaven, and is acting there as High Priest for them, after the Order
of Melchisedec—it is essential to this Order only to make intercession
in heaven. From which passage we may then conclude, that
Melchisedec and the second Person in the ever blessed Trinity were,
and are the same; for none but Christ in our nature ever did, or will
intercede for us in heaven.
The Apostle then goes on with this Subject in the 7th Chapter. After
declaring this Melchisedec is in heaven, interceding according to his
own peculiar Order, he adds, For THIS Melchisedec, King of Salem,
Priest of the Most High God, who met Abraham returning from the
slaughter of the kings, and blessed him—to whom also Abraham
gave a tenth part of all. First, being, by interpretation, King of
Salem, which is, King of Peace—he being without Father, without
Mother, having neither beginning of days nor end of life, but made
like the Son of God, abideth a Priest continually.—Consider now, how
great this man was.—It is my grief, I cannot read the Greek for
myself; but upon good authority I have to remark, that the verb
Substantive not to be used here in any tense, but must be read
Person—and is instead of was—so the text should be read, Now
consider how great this Person is—the Person who continues a Priest
for ever, spoken of in the close of the 3rd verse, and which must be
read in the tense the Apostle speaks it. From which it appears plain,
that the Person who in the text met Abraham, is now in heaven,
interceding for his Church.—Abraham gave him the tenth of the
spoil, and therefore acknowledged him to be his divine Priest and
King. The Apostle then proceeds with the Subject, and says, (5th
verse) that this glorious Person, this High Priest is not of the descent
of Levi, not at all of that tribe—as all Priests that belonged thereto
were imperfect and died, but this Melchisedec now receiveth tithes,
because he is our ever-living Priest. And at the close of the 8th
verse the Apostle says, It is witnessed of him that he liveth, that is,
that he is alive now—and in the 3rd verse says, he abideth a Priest
continually. This surely can never be said of any mere man, of any
typical character, of any Canaanitish King, or any Priest, but our
great Melchisedec. Some may object that he may be said to live as
many departed saints do, but then it could not be said of him that
he continued to live in his Office, as a Priest for ever.
I think this Subject appears more clearly by the titles the Holy Ghost
gives him. The Apostle having asserted the identity of the Person,
goes on to prove the fact, by the name Melchisedec, King of
Righteousness. This title belongs to Jesus only, of whom it was
prophesied, Behold a King shall reign in righteousness, and Princes
shall rule in judgment. This was first accomplished upon the
ascension of our dear Lord, when he was exalted at the Father’s
right-hand, and the decree went forth that all men should bow to
him. This shews him to be the righteousness of his people, and that
he fills Zion with it; and that one day he will appear as the judge of
quick and dead, and act before assembled worlds, as a righteous
Judge—King of Righteousness.
The next title is King of Peace—as the author, the preacher, and
revealer of all Peace, external, internal, and eternal. This title some
have conjectured belonged to some Canaanitish king who reigned in
Salem, afterwards called Jerusalem.—But the Apostle tells the
Hebrews to regard the meaning of the title, King of Peace—though
the time of his actual reigning in Jerusalem was not come, nor will it
till the latter day glory. At present he is King of Peace, in the Gospel,
in the Conscience, and in Mount Zion.—Without Father.—The human
nature he had assumed at that time, in which he appeared to
Abraham, was without Father or Mother, without Descent; for as a
Priest, the Apostle is proving the fact, that he had no predecessors
or successors, so of course, unlike the tribe of Levi. As God, he was
without Father; the divine nature was underived, not begotten. He
is the Son of God, in his official capacity, but not in the divine
essence. His human nature was without Father—“The Son of Man
but no Man’s Son,” Erskine.—Without Mother. The body, the
likeness, the form in which he appeared to Abraham, was without
Mother, for it was many years afterwards he was born of the Virgin;
and though she had the honour to bear him yet she was purely
passive is the act of the formation of his nature. In these same
senses he was without Descent—he had no predecessors or
successors, as God, or as the High Priest of our Profession. Hence
he is said to be the first and the last; if so, then there were none
before him, and there can be none after him. The objection to this
expression is, that it only refers to a want of the knowledge of his
Genealogy; but though this might be the case of some persons, or of
any, yet they certainly descended from some one. It might as well
be argued that because I stand alone, and never heard of any one
relation in the world, that I was without descent. But then the
Apostle speaks in stronger terms still, and which can only be applied
to Divinity itself—having neither beginning of days, nor end of life:
this expression must refer to his Divine Nature. He is himself the
beginning, in whom God made all things. In the beginning God
created Heaven and Earth; that is, in Christ; he was in the beginning
with God, one with him in the council and secret purposes of God;
as well as the everlasting God; nor will he ever die as Man any
more. As Priest he never did die at all; as God, in his Divine Nature,
it is impossible. As the glorious Mediator, he ever lives, and all who
are united to him live also.—
But made like the Son of God. This expression, like, seems dark to
many at first sight, but when we look at the Subject altogether, it is
very clear that none can be like God but God himself. None can be
like such a Priest, after such an Order, but the High Priest, Jesus
himself. The body he was to assume from the beginning, he
frequently assumed a likeness of. Hence Nebuchadnezzar saw one
like the Son of God in the Furnace. Now no christian can for a
moment disbelieve that this was Christ; and that, long before his
incarnation, the likeness that appeared was the likeness of his body,
now glorified. This appeared to Joshua, to Moses, to Lot, to
Abraham, Jacob, Ezekiel, and John.—These all saw the likeness of
the body that is now in heaven. So that this Son of God appeared
like the Son of God, after his glorification. He loved our nature so
well that he anticipated the assumption of it; he rejoiced in the
habitable parts of the earth, and his delights were with the Sons of
Men. This the dear Redeemer shewed frequently, by his visits to our
earth, in the likeness of that body which is now raised and glorified,
and to which likeness the bodies of God’s elect are predestinated to
be conformed.
I would make the remark here, as we have answered the above
objection, so another is started, How, and in what sense could this
Melchisedec receive tithes? And, if a divine Person, What did he do
with them? On this I must confess there is a difficulty. Paul says he
met Abraham—yet the word (as say the learned) means being in
company together. We shall now investigate this Subject a little,
and attend to its signification.
If this Melchisedec was only a Canaanitish King, I can see no reason
why Abraham should give him the tenth of the spoils he had taken in
battle; for I do not read of any king assisting in this war, or even
minding the stuff, or guarding the coast; for it seems to have been a
law among the warriors to divide the spoil, as in the 1st of Samuel,
30th Chap. But as his part shall be that goeth to battle, so shall his
be that tarrieth by the stuff, they shall part alike. Now considering
how great this Man was (or this Person is) to whom Abraham gave
the tenth, we are prone to ask those questions that are of no
importance to us, as, If this was Christ, what use could they be to
him—and what did he do with them? We may as well ask, How the
Lord and his attendants eat, when Abraham made an entertainment
at the tent door—they appeared to him to eat. So, after his
resurrection from the dead they gave him a piece of broiled fish and
of an honey comb, and he took it, and did eat before them. This
may lead us to ask still more curious questions, as, What body was it
in which our Lord made those appearances, and what became of it?
These things we must die to know; it is but of little consequence to
us now—what tithes Abraham gave him he knew how to dispose of.
—But in this instance the glory of our Lord appears; for it is clear no
man on earth was so great as Abraham; so the Apostle argues, and
truly the less is blessed of the greater—Abraham, the less, was
blessed of Melchisedec, the greater. This was peculiar to his Order
only, nor does there want another Priest to arise after his similitude,
seeing he ever liveth to represent his people.
There was undoubtedly something of importance in this act of
Abraham’s, and in which we may see, First, Abraham’s gratitude to
the Captain of his Salvation, who had given him success in this war,
which was just and necessary. So we find the Israelites devoted a
part of the spoils taken in battle, to the Lord, and the rest was
divided among them, (See Numbers xxxi, 25 v. to the end).—When
Jacob vowed to the Lord, he said, Of all thou shall give me I will
surely give the tenth unto thee;—and hence in his posterity we find
the tenth of their portions were to be consecrated to the Lord, and
this tenth, so devoted, was a type of God’s elect, Jews and Gentiles,
who were to be devoted to his service. God, by the Prophet Isaiah,
Chap. vi, says, But yet in it shall be a tenth, and it shall return and
shall be eaten. Abraham giving the tenth to Melchisedec, and
keeping the rest, (thus dividing the spoil) was an exhibition of what
the Saviour would do, actually, when he should divide the spoil with
the strong; when he should rise up early to the prey, and in the
evening of his death divide the spoil—give to God’s Law and Justice
infinite satisfaction—to his people all the blessings he secured, and
get to himself a name above every other, that at his name every
knee should bow.—Thus he divides the spoil, because he poured out
his soul unto death. So in the hearts of his elect, by the conquest of
his grace, when he spoils the works of the Devil in us, as well as for
us, and by Faith, leads us to get victory over every sin and every
fear, and enables us to give him the heart in a way of love, the mind
in his service, and all our powers devoted to his glory, body, soul,
and spirit, time and talents: this is giving him the tenth. We have
got the blessings he has enabled us to get by Prayer and Faith, and
we give him the glory due to his holy name—while he oft refreshes
us with himself as the Bread of Life, fills us with the Wine of his love,
and blesses us with communion with himself—so we give him tithes
of all—hence the Apostle says, that he now receiveth them.—
Thirdly. This act may be a type of that important period when our
glorious High Priest will receive his elect at his second coming, when
the faithful of whom Abraham was a figure, will come from their
graves, and meet Jesus—and he will come from the third heaven
and meet them, introduce them into the heavenly country, the new
heaven and earth. Here our Priest will bless us, and here we shall
cast our crowns at his dear feet, and sing—Worthy the Lamb that
was slain. Thus we shall give him tithes of all.
The Dignity and Identity of this glorious Person may be clearly seen
by the nature of his Priestly Office—this is what the Apostle is
proving by a quotation from the 110th Psalm—Thou art a Priest for
ever, after the Order of Melchisedec. How mean is the common idea
that he was a Canaanitish king, and that Christ is a Priest after his
order. Had Christ been constituted a Priest after any Order of
human Beings, it would have been after the Order of Aaron, a Priest
of God’s own appointment; but Christ is a Priest after his own Order.
When God means to swear he swears by himself, because there is
no greater—when he means to draw a similitude of himself he likens
himself to himself; and when Jesus reveals himself as a Priest after
an Order, it is his own Order, and his glory will he not give to
another.
The Apostle in this Epistle, is setting forth the Divinity and Glory of
Jesus, as God-Man Mediator; and shews how far he excels angels,
and then how far he excelled Moses. He then points out how far he
excelled Aaron; and in his Office of High Priest, how far he excelled
all the Priests of the Levitical Order—they were mere men, he the
God-Man—they were mortal and died, he was immortal, and ever
lived. The fact is, that the Son of God having finished the great
Work of Redemption, sat down on the right-hand of God, agreeably
to what is said in the 110th Psalm—The Lord said to my Lord, sit at
my right-hand, for THOU art a Priest for ever. This makes it evident
that the Priests under the Old Testament Dispensation typified Jesus,
as exercising his Priestly Office before his ascension; but the Order
of our Melchisedec is appearing in a glorified state, at the right-hand
of the Majesty in heaven, representing and blessing his people. This
is the Order the Father appointed him, and in this he continues.
This he revealed to Abraham, and in the act of blessing him shewed
what he was to be and do, upon his glorification, after his battle was
over, of which Abraham’s war was but a faint shadow. That
Melchisedec is the Son of God appears evident from his call to the
Priesthood. So the Apostle has coupled these two texts together in
the 5th Chapter—Thou art my Son, this day have I begotten thee.
As he saith, also, in another place. Thou art a Priest for ever, after
the Order of Melchisedec. From which we must infer that
Melchisedec is the eternal Son of God—for God declaring Christ to be
his Son, was at the same time constituting him a Priest for ever,
after his own Order, as King of Righteousness and Peace, fulfilling
the one, and making the other for his Church. Upon his ascension
he was to abide a Priest and King for ever—the eternity of his
Priesthood clearly demonstrates the fact—the term for ever—a Priest
for ever. This was essential to his Order, eternal Priesthood,
therefore he must be eternal, which could never be said of any mere
man—of course the Son, or second Person, is the Melchisedec that
met Abraham, that now liveth and abideth. The Apostle also
declares that his Order is Perfection, and the Power of an endless
Life, in opposition to the Levitical Priesthood, which was imperfect,
and they carnal men.—The Father’s language to the Son in the 110th
Psalm, according to the learned Morrison’s Scripture Dictionary, is
rendered literally in the original, Jehovah hath sworn, and will not
repent, Thou art a Priest for ever, upon or according to my Word, O
MELCHISEDEC. This is addressed from the Father to the Son, and to
no other Person. On this verse, the good Dr. Hawker remarks, that
the Psalmist is tracing up the Subject to the everlasting Council of
Peace between them both, in Jehovah swearing-in Christ into his
Priestly Office, even that of an everlasting Priesthood. These things
cannot be said of any mere man; nor does it any where assert that
Melchisedec was a type—but the above arguments clearly prove he
was the eternal Son of God; and to doubt this, or be ignorant of it,
the Apostle declares the Hebrews were dull of hearing; and surely so
are many of God’s people, to this day, upon this Subject—therefore,
Consider now how great this Person is—he is called the great God,
the great Saviour, great King, great Prince, great Shepherd, great
High Priest; great in his nature, his love, his mercy, his wisdom, his
glory, his grace, his power; and these he delights to shew to his dear
people, who are called upon to consider him—these are said to fly
for refuge to him, to cast anchor within the veil, either of his flesh,
and lay hold of his eternal Divinity, or into ultimate glory, and view
Jesus as an ever-living Priest, carrying on their cause, representing
their Persons, pleading the virtue of his blood and righteousness,
and abideing till all his foes become his footstool, and the mystery of
God shall be finished; then the Son will deliver up the mediatorial
kingdom to the Father, and God, Father, Son, and Spirit shall be all in
all.
The last consideration is, The Work he carries on as a Priest, under
this peculiar Order. The Priest under the old Law, no doubt, typified
him; but perhaps very little further as types than his death, or
entering into the Holy of Holies. Here they as types fail, and we see
Jesus of another Order, and under a different view, upon his
glorification, carry on his Priestly Office in heaven. Aaron the High
Priest, in many things typified him, tho’ Christ was not of that Order,
but of the tribe of Judah, of which Moses spake nothing pertaining
to the Priesthood. But our dear Lord is become the author of eternal
salvation to his people, and still officiates as an High Priest after his
own Order—and this Order is not to make an atonement, or fulfil the
Law, this he had done; but exalted to bless his people for ever.—This
Office was shewed to Abraham when Christ met him, and refreshed
him with bread and wine, a figure of his body and blood, which were
to be offered up in sacrifice, and upon that offering his intercession
was founded, and all blessings are dispensed by him, as it followed,
and he blessed Abraham. Hence, having purged our sins, he has sat
down at his Father’s right-hand to bless us for evermore. This is
peculiar to his Order only, for this he ever lives. Perhaps every
blessing he communicates as a Priest, is included in that prescribed
form the Priests used under the old Law, Numbers 6th Chap, verse
22, to the close.
He met, and blessed Abraham with Righteousness and Peace; and to
this day he gives the same to us, for as many as are of Faith are
blessed with faithful Abraham. Hence the benediction, the Lord give
thee Peace. And the Apostle says, He is exalted to give Repentance
and Remission of Sins—thy sins are forgiven thee; go in peace. He
blesses us with converting grace. God hath sent his Son to bless us,
by turning us from our iniquities, with a better righteousness. David
describeth the blessedness of the man to whom the Lord imputeth
righteousness without works, with the adoption of children—to them
gave he power to become the Sons of God—with spiritual life. The
Lord commanded his blessing on Mount Zion, even life for
evermore. He blesses them with his preserving power; his guiding
Spirit in all his Offices; the light of his countenance; a new nature
and a new name—these are all included in his Priestly Benediction,
which the Priests could only pronounce, and we can only pray for,
but which it is his glory to give, as our Melchisedec—the Lord bless
thee and keep thee—the Lord make his face to shine upon thee, and
be gracious unto thee—the Lord lift up his countenance upon thee,
and give thee peace. And they shall put my name upon the Children
of Israel, and I will bless them. This act of the Redeemer’s
intercession and blessing, is in an authoritative way—Father I will
that those whom thou hast given me, be with me where I am, that
they may behold my glory—which God grant us all.—AMEN.

Thus we have endeavoured to prove that Christ is the true

Melchisedec, without a type or figure—that he was not Shem, nor
his Grandson, nor an earthly King, however pious; but that it was
Jesus appearing in the likeness in which he should appear for ever,
before the throne, to bless his people in. This fact we have
attempted to prove from express passages, from his glorious titles,
from the peculiarity of his Order, and the nature of his Work, as a
Priest.
For a most judicious handling of this Subject I refer my Readers to
Morrison’s Bibliotheca Sacra—to which I am much indebted.
 AN HYMN.

KING of Salem, bless my soul!

Make a wounded sinner whole!
King of righteousness and peace,
Let not thy sweet visits cease.
Come, refresh this soul of mine
With thy sacred bread and wine;
All thy love to me unfold,
Half of which cannot be told.
Hail, Melchisedec divine!
Thou great High Priest shalt be mine;
All my powers before thee fall—
Take not tythe, but take them all.

FINIS.
*** END OF THE PROJECT GUTENBERG EBOOK CHRIST THE TRUE
MELCHISEDEC ***

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