Galatians 3:26-27: "26 for in Christ Jesus you are all sons of God, through faith. 27 For as many of you as were baptized into Christ have put on Christ."
Romans 6:1-7: "1 What shall we say then? Are we to continue in sin that grace may abound? 2 By no means! How can we who died to sin still live in it? 3 Do you not know that all of us who have been baptized into Christ Jesus were baptized into his death? 4 We were buried therefore with him by baptism into death, in order that, just as Christ was raised from the dead by the glory of the Father, we too might walk in newness of life.
"5 For if we have been united with him in a death like his, we shall certainly be united with him in a resurrection like his. 6 We know that our old self was crucified with him in order that the body of sin might be brought to nothing, so that we would no longer be enslaved to sin. 7 For one who has died has been set free from sin."
Mark 16:16: "'Whoever believes and is baptized will be saved, but whoever does not believe will be condemned.'"
John 3:3-6: "3 Jesus answered him, 'Truly, truly, I say to you, unless one is born again he cannot see the kingdom of God.' 4 Nicodemus said to him, 'How can a man be born when he is old? Can he enter a second time into his mother's womb and be born?' 5 Jesus answered, 'Truly, truly, I say to you, unless one is born of water and the Spirit, he cannot enter the kingdom of God. 6 That which is born of the flesh is flesh, and that which is born of the Spirit is spirit.'"
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Galatians 3:26-27 and Romans 6:1-7 are the basis for the refrain. Mark 16:16 and John 3:3-6 appear at the end of the second verse: "Those who are baptized and believe / Shall be born again."
The beginning of the first verse ("Little children, come to Me, / For My kingdom is of these") is from Matthew 19:13-14: "13 Then children were brought to him that he might lay his hands on them and pray. The disciples rebuked the people, 14 but Jesus said, 'Let the little children come to me and do not hinder them, for to such belongs the kingdom of heaven.'"
The beginning of the third verse ("Let us daily die to sin; / Let us daily rise with Him") seems to echo Luther's Small Catechism: "[Baptism] indicates that the Old Adam in us should by daily contrition and repentance be drowned and die with all sins and evil desires, and that a new man should daily emerge and arise to live before God in righteousness and purity forever."