Romans 11:5

"He hath not cast off His people, whom He foreknew." As though he said, I have with me three, five, or ten thousand. What then? has the people come to be three, five, or ten thousand? that seed that compared with the stars of heaven for multitude, or the sand of the sea? Is this the way you deceive us and put a cheat upon us, by making the whole people thyself and the few that are with thee; and didst thou inflate us with idle hopes, and say that the promise has been fulfilled, when all are lost, and the salvation comes down to a few? This is all bombast and vanity! we cannot away with such sophistry as this. Now, that they may not say this, see how in the sequel he proceeds to the answer, not giving the objection indeed, but before it grounding the answer to it upon ancient history. What then is the answer? "Wot ye not," he says, "what the Scripture saith of Elias? how he maketh intercession to God against Israel, saying, Lord, they have killed Thy prophets, and digged down Thine altars; and I am left alone, and they seek my life. But what saith the answer of God unto him? I have reserved to Myself seven thousand men, who have not bowed the knee to the image of Baal. Even so then at this present time also, there is a remnant according to the election of grace." What he means is nearly this. "God hath not cast off His people." For had He done so, He would have admitted none of them. But if He did admit some, He hath not cast them off. Still it is said, if He had not cast off, He would have admitted all. This does not follow; since in Elijah's time the part to be saved had come down to "seven thousand:" and now also there are probably many that believe. But if you do not know who they are, this is no wonder, for that prophet, who was so great and good a man, did not know. But God ordered things for Himself when even the prophet knew them not. […]

These are the things which the Apostle brings forward as an example for the present time. And he adds: "So therefore at this present time also a remnant according to the election of grace has been saved. But if by grace, then no longer of works: otherwise grace is no longer grace."

A remnant exists even now, he says, that is, the best. When winnowed grain is fanned, what remains is the kernel. Just so God too, rejecting the wicked, keeps the worthy for Himself. When he said "by election," he showed the diligence of those being …

Then when he says, even so then, he adapts all this to the present situation. First, he sets out the adaptation, saying: even so then, at this present time also, in which a multitude of people seems to have gone astray, there is a remnant …

If then there was a remnant left under the Old Testament, when the displays of grace were less clear and the pourings out of the Spirit less plentiful, much more now under the gospel, when the grace of God, which bringeth salvation, appears more illustrious.-- A remnant, a few of many, a remnant of believing Jews when the rest were obstinate in their unbelief.

Even so then at this present time also,....

Even so then at this present time - As in the present day the irreligion of the Jews is very great; yet there is a remnant, a considerable number, who have accepted of the grace of the Gospel. According to the election of grace - And these are saved just as God has saved all believers from the beginning; they are chosen by his grace, not on account of any worth or excellence in themselves, but through his goodness are they chosen to have a place in his Church, and continue to be his people, entitled to all the privileges of the new covenant. The election of grace simply signifies God’s gracious design in sending the Christian system into the world, and saving under it all those who believe in Christ Jesus, and none else. Thus the believers in Christ are chosen to inherit the blessings of the Gospel, while those who seek justification by the works of the law are rejected.