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)