1 John 4:7-10: "7 Beloved, let us love one another, for love is from God, and whoever loves has been born of God and knows God. 8 Anyone who does not love does not know God, because God is love. 9 In this the love of God was made manifest among us, that God sent his only Son into the world, so that we might live through him. 10 In this is love, not that we have loved God but that he loved us and sent his Son to be the propitiation for our sins."
Revelation 5:6-13: "6 And between the throne and the four living creatures and among the elders I saw a Lamb standing, as though it had been slain, with seven horns and with seven eyes, which are the seven spirits of God sent out into all the earth. 7 And he went and took the scroll from the right hand of him who was seated on the throne. 8 And when he had taken the scroll, the four living creatures and the twenty-four elders fell down before the Lamb, each holding a harp, and golden bowls full of incense, which are the prayers of the saints. 9 And they sang a new song, saying, 'Worthy are you to take the scroll and to open its seals, for you were slain, and by your blood you ransomed people for God from every tribe and language and people and nation, 10 and you have made them a kingdom and priests to our God, and they shall reign on the earth.' 11 Then I looked, and I heard around the throne and the living creatures and the elders the voice of many angels, numbering myriads of myriads and thousands of thousands, 12 saying with a loud voice, 'Worthy is the Lamb who was slain, to receive power and wealth and wisdom and might and honor and glory and blessing!' 13 And I heard every creature in heaven and on earth and under the earth and in the sea, and all that is in them, saying, 'To him who sits on the throne and to the Lamb be blessing and honor and glory and might forever and ever!'"
John 8:58: "Jesus said to them [the Jews], 'Truly, truly, I say to you, before Abraham was, I am.'"
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The text is public domain:
What wondrous love is this, O my soul, O my soul!
What wondrous love is this, O my soul!
What wondrous love is this
That caused the Lord of bliss
To bear the dreadful curse for my soul, for my soul,
To bear the dreadful curse for my soul!
When I was sinking down, sinking down, sinking down,
When I was sinking down, sinking down,
When I was sinking down
Beneath God's righteous frown,
Christ laid aside His crown for my soul, for my soul,
Christ laid aside His crown for my soul.
To God and to the Lamb I will sing, I will sing;
To God and to the Lamb I will sing;
To God and to the Lamb,
Who is the great I AM,
While millions join the theme, I will sing, I will sing,
While millions join the theme, I will sing.
And when from death I'm free, I'll sing on, I'll sing on;
And when from death I'm free, I'll sing on.
And when from death I'm free,
I'll sing His love for me,
And through eternity I'll sing on, I'll sing on,
And through eternity I'll sing on.
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The Biblical sources for this hymn are clearly delineated. The first two verses come from the text from 1 John 4, and the third and fourth verses come mostly from the text from Revelation 5. The line "Who is the great I AM" in the third verse comes from John 8:58, which references Exodus 3:14: "God said to Moses, 'I AM WHO I AM.' And he said, 'Say this to the people of Israel, "I AM has sent me to you."'"