1 Peter 1:18-19: "18 knowing that you were ransomed from the futile ways inherited from your forefathers, not with perishable things such as silver or gold, 19 but with the precious blood of Christ, like that of a lamb without blemish or spot."
1 Peter 1:6-9: "6 In this you rejoice, though now for a little while, if necessary, you have been grieved by various trials, 7 so that the tested genuineness of your faith - more precious than gold that perishes though it is tested by fire - may be found to result in praise and glory and honor at the revelation of Jesus Christ. 8 Though you have not seen him, you love him. Though you do not now see him, you believe in him and rejoice with joy that is inexpressible and filled with glory, 9 obtaining the outcome of your faith, the salvation of your souls."
Romans 8:38-39: "38 For I am sure that neither death nor life, nor angels nor rulers, nor things present nor things to come, nor powers, 39 nor height nor depth, nor anything else in all creation, will be able to separate us from the love of God in Christ Jesus our Lord."
John 6:68-69: "68 Simon Peter answered him, 'Lord to whom shall we go? You have the words of eternal life, 69 and we have believed, and have come to know, that you are the Holy One of God.'"
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The text is public domain:
1 Jesus, priceless treasure,Fount of purest pleasure,Truest friend to me,Ah, how long in anguishShall my spirit languish,Yearning, Lord, for Thee?Thou art mine,O Lamb divine!I will suffer naught to hide Thee;Naught I ask beside Thee.2 In Thine arms I rest me;Foes who would molest meCannot reach me here.Though the earth be shaking,Ev'ry heart be quaking,Jesus calms my fear.Lightnings flashAnd thunders crash;Yet, though sin and hell assail me,Jesus will not fail me.3 Satan, I defy thee;Death, I now decry thee;Fear, I bid thee cease.World, thou shalt not harm meNor thy threats alarm meWhile I sing of peace.God's great pow'rGuards ev'ry hour;Earth and all its depths adore Him,Silent bow before Him.4 Hence, all earthly treasure!Jesus is my pleasure,Jesus is my choice.Hence, all empty glory!Naught to me thy storyTold with tempting voice.Pain or loss,Or shame or cross,Shall not from me Savior move meSince He deigns to love me.5 Evil world, I leave thee;Thou canst not deceive me,Thine appeal is vain.Sin that once did blind me,Get thee far behind me,Come not forth again.Past thy hour,O pride and pow'r;Sinful life, thy bonds I sever,Leave thee now forever.6 Hence, all fear and sadness!For the Lord of gladness,Jesus, enters in.Those who love the Father,Though the storms may gather,Still have peace within.Yea, whate'erI here must bear,Thou art still my purest pleasure,Jesus, priceless treasure!
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The two passages from 1 Peter 1 are the main sources for the hymn. Verses 7 and 19 appear in the hymn's first, fourth, and sixth verses (Jesus as "priceless treasure" and "purest pleasure" and as "Lamb divine"), and the "various trials" in verse 6 appear in the second through fifth verses.
Romans 8:38-39 is paraphrased near the end of the fourth verse: "Pain or loss, / Or shame or cross, / Shall not from my Savior move me."
The passage from John 6, particularly "'Lord to whom shall we go?'" seems to appear in the line "Naught I ask beside Thee" at the end of the first verse.
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Parts of the second verse bear some similarity to Psalm 46:2-3 ("2 Therefore we will not fear though the earth gives way, though the mountains be moved into the heart of the sea, 3 though its waters roar and foam, though the mountains tremble at its swelling.") and to Jesus' calming a storm in Matthew 8:23-27, Mark 4:35-41, and Luke 8:22-25.
The command in the lines "Sin that once did blind me, / Get thee far behind me" seems to be patterned on that in Matthew 16:23: "But he turned and said to Peter, 'Get behind me, Satan! You are a hindrance to me. For you are not setting your mind on the things of God, but on the things of man.'"
