The word “grace” has different meanings in Scripture. Sometimes it means the inward work of God the Holy Ghost in the soul, as when it says, “Grow in grace.” {55a} But this cannot be our standing-ground, for the simple reason that it is imperfect and variable. But this is not the only meaning of the word, or nearly so, for it is used for any great gift of love and mercy bestowed in God’s free favour on His people. We have to consider what is the free gift or favour into which we have had access, and which is now our standing-ground. This question the context must decide; and it seems to me impossible to study that context, without coming to the conclusion that the grace here referred to is that which must ever be the real resting place for those who are convinced of sin, a righteousness imputed in the free grace of God. {55b} This, then, is the grace in which we stand, the grace of imputation, the gracious gift of a righteousness reckoned, counted, or imputed to us when we do not deserve it; the marvellous mercy through which we are accounted righteous, accepted as righteous, beloved as righteous, and finally saved as righteous, although we are not really so in fact, and although we are conscious in our own hearts of matter for the most profound humiliation before God. Who can wonder that we rejoice in hope when we are placed in mercy on such a standing-ground as that? This, you observe, is a work _for_ us, and not _in_ us, and therefore never varies. The work _in_ us is perpetually changing. It is a progressive work, and its progress is sometimes much more rapid than at others. But the work _for_ us does not go up and down with the work _in_ us; it is unchangeable, like God Himself. The righteousness imputed is the righteousness of God, and therefore perfect and unchangeable. It changeth not for the simple reason that He changeth not, and therefore always, in cloud as well as sunshine, in dark days as well as bright, in the hour of tribulation as well as in the season of unmixed prosperity, in the times of deepest humiliation as well as in those of emotion and encouragement, the justified believer may rejoice in Him, and triumph in the God of his salvation. It is this that gives its security to hope, this that makes us sure of its never failing. If we were relying on all the varied changes of our own feelings, there might be joy one day and despair the next; but while we stand in the grace of imputed righteousness, our hope has a foundation that can never give way, and therefore we may accept the joy without a fear, and rejoice in hope of the glory of God. What is the great principle within the soul which constitutes our standing in this grace?