8 Faith! - 'tis a precious grace,
Where'er it is bestow;d!
It boasts of a celestial birth,
And is the gift of God!
9 Jesus it owns a King,
An all-atoning Priest,
It claims no merit of its own,
But finds it all in Christ.
10 To him it leads the soul,
When fill'd with deep distress;
Appropriates his precious blood,
And trusts his righteousness.
11 Since 'tis thy work alone,
And that divinely free;
Lord, send the spirit of thy Son
To work this faith in me.
Source: The Psalms of David: with hymns and spiritual songs: also, the catechism, confession of faith, and liturgy of the Reformed Church in the Netherlands #H7.II
Faith, 'tis a precious gift. B. Beddome. [Faith described.] Of this popular hymn various forms are in common use both in Great Britain and America as follows:—
1. The original, which was given in the Bristol Baptist Collection of Ash & Evans, 1769, No. 232, in 4 stanzas of 4 lines. This was repeated in Rippon's Selection, 1787, and later editions, and several modern hymn-books.
2. The text as in R. Hall's posthumous edition of Beddome's Hymns, 1817, No. 165, where after stanza ii. alterations are introduced, and another stanza (iv.) is added. This text is given in the Baptist Psalms & Hymns, 1858.
3. "Faith is a precious gift." This is an altered form of the hymn, in Dr. Alexander's Augustine Hymn Book, 1849-65, partly from the 1769, and partly from the 1817 texts; and in the American Baptist Praise Book, 1871, from the 1769 text.
4. "Faith is the gift of God," in Snepp's Songs of Grace & Glory, 1872, is an alteration of the 1817 text in 5 stanzas.
Taken in its various forms this hymn is very extensively used.
--John Julian, Dictionary of Hymnology (1907)