Psalms 124:4

..."When their fury was enraged upon us." They are now in anger, they now openly rage: "perchance the water had drowned us" (ver. 4). By water he meaneth ungodly nations: and we shall see what sort of water in the following verses. Whoever had consented unto them, water would have overwhelmed him. For he would die by the death of the Egyptians, he would not pass through after the example of the Israelites. For ye know, brethren, that the people of Israel passed through the water, by which the Egyptians were overwhelmed. But what sort of water is this? It is a torrent, it flows with violence, but it will pass by...Hence He, our Head, first drinketh, of whom it is said in the Psalms, "He shall drink of the torrent in the way: therefore shall He lift up His head." For our Head is already exalted, because He drank of the torrent by the way; for our Lord hath suffered. If therefore our Head hath been already raised up, why doth the body fear the torrent? Without doubt, because the Head hath been raised, the body also will say hereafter, "Our soul hath passed over the torrent. Perhaps our soul hath passed over the water without substance" (ver. 5). Behold, what sort of water he was speaking of, "The water perchance had overwhelmed us." But what meaneth, "without substance"?

Then the waters had overwhelmed us,....

Then the waters had overwhelmed us. Rising irresistibly, like the Nile, the flood of opposition would soon have rolled over our heads. Across the mighty waste of waters we should have cast an anxious eye, but looked in vain for escape. The motto of a royal house is, "Tossed about but not submerged": we should have needed an epitaph rather than an epigram, for we should have been driven by the torrent and sunken, never to rise again. The stream had gone over our soul. The rushing torrent would have drowned our soul, our hope, our life. The figures seem to be the steadily rising flood, and the hurriedly rushing stream. Who can stand against two such mighty powers? Everything is destroyed by these unconquerable forces, either by being submerged or swept away. When the world's enmity obtains a vent it both rises and rushes, it rages and rolls along, and spares nothing. In the great water floods of persecution and affliction who can help but Jehovah? But for him where would we be at this very hour? We have experienced seasons in which the combined forces of earth and hell must have made an end of us had not omnipotent grace interfered for our rescue.

Then the waters had overwhelmed us - Our destruction would have been as if the waves of the ocean had overwhelmed us. The stream had gone over our soul - The torrent would have swept us away. Compare Psa 18:4, Psa 18:16.