Deuteronomy 15:2

This year of release typified the grace of the gospel, in which is proclaimed the acceptable year of the Lord, and by which we obtain the release of our debts, that is, the pardon of our sins, and we are taught to forgive injuries, as we are and hope to be forgiven of God.

Every creditor - Here is, a law for poor, insolvent debtors. Every seventh year was a year of release, when among other acts of grace, this was one, that every Israelite, who had borrowed money, and had not been able to pay it before, should this year be released from it.

And this is the manner of the release,.... Or the rules to be observed in making it: every creditor that lendeth ought unto his neighbour shall release it; that is, forgive the debt, or free the debtor from any obligation to payment.

THIS wonderful transaction of "the Lord's release" came at the end of every seven years. It was according to the gracious Law of God for Israel that there should be, first of all, a rest one day in seven. Next, there were feast days one month in seven—and then there came, every seventh year, a year of rest for the land in which they did not till it, but left it to lie fallow. Then after the seven sevens were complete, there came on the 50th year, an extraordinary year of rest, in addition to the usual one—this was called the Year of Jubilee. I believe that there is a spiritual meaning in this succession of rests, but I have not time to enter upon the explanation of it now, except to say that, doubtless, that last seven of sevens represents the restitution of all things, when the Lord Jesus shall have gathered His people in to rest forever and ever with Himself in His Glory. Till then, we go from seven to seven every week—our Sabbaths are so many staves of the golden ladder by which we climb up to the eternal Sabbath. We bless God that we still retain, at least, that vestige of the seven, for blessed are our eyes that they see, and our hearts that they enjoy the one day of rest every week! What would we do without it? Once, then, in seven years, there was a year of perfect rest. And I cannot help remarking, again, as I did in the reading, what happy people the chosen people would have been if they had but listened to God's commands! Only imagine a country where, for a whole year, there would be nothing to do.

On that day something really extraordinary happened — all debts are wiped out! All credits are wiped out. The financial realm is wiped clean every seven years.