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This psalm is closely connected with the one which follows it. In this the subject is the greatness and graciousness of Jehovah. In the Hebrew there are ten verses, the first eight having two lines in each, and the last two three lines in each. That makes a total of twenty-two lines. The first letters of these lines constitute the alphabet. Thus it is a song of praise constructed as an alphabetical acrostic.
Another division is that of taking the first seven lines which tell of His greatness; the next twelve which proclaim His graciousness; and the last three which declare the wisdom of such as fear Him and act accordingly. This last division prepares the way for the next psalm. The greatness of Jehovah is manifest in His works, the supreme characteristics of which are honour, majesty, and righteousness. The graciousness is evident in all His dealings with His people. These are characterised by compassion and constancy; by uprightness and redemption. In view of such greatness and graciousness, how true it is that to fear Him is wisdom, and to do His will is evidence of good understanding.
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Morgan, G. Campbell. "Commentary on Psalms 111". "Morgan's Exposition on the Bible". https://studylight.org/
the Second Week of Advent