Happy the man who [that] finds the grace. C. Wesley. [Happiness in Forgiveness.] Appeared in Hymns for those that seek and those that have Redemption, &c, 1747, No. 18, in 9 stanzas of 4 lines, and based on Prov. iii. 13, &c. (Poetical Works, 1868-72, vol. iv. p. 234). In the Wesleyan Hymn Book, 1780, it was given with the omission of stanzas iv., v., viii., as "Happy the man that finds the grace.” Most of the forms of this hymn in use in Great Britain and America are based upon this text of 1780.
--John Julian, Dictionary of Hymnology (1907)