The Unpaid Debt
Under the old covenant there could be no peace with God and no remitting of the penalty for sins without the shedding of blood — the blood of animals. But this blood of animals could only give relief for one year at a time; it could not remove or take away sin. No individual ever received the remission of his sins simply through animal sacrifices. The writer of Hebrews says, "For the law having a shadow of the good things to come, not the very image of the things, can never with the same sacrifices year by year, which they offer continually, make perfect them that draw nigh. Else would they not have ceased to be offered? Because the worshippers, having been once cleansed, would have had no more consciousness of sins. But in those sacrifices there is a remembrance made of sins year by year. For it is impossible that the blood of bulls and goats should take away sins." (Heb. 10:1-3)
God did not forgive their sins and blot them out under that old covenant. All that was accomplished by the blood of animals was to make peace possible between God and man for one year at a time. This was the case until Christ died; and then by his blood settlement was made for their sins once and for all. Up to the death of Christ God simply passed over their sins, not forgiving them, but merely refraining from exacting the penalty against them. And Christ paid off the debt in full.
The Unpaid Debt
If you were to go to the bank and borrow $1,000.00, let us say you should give the bank a note maturing April 22, 1955. During the ensuing year, until April 22, 1955, payment of that $1,000.00 could not be demanded or required of you. By the note you have made settlement of the debt for one year's time. But on April 22, 1955, let us suppose you have met with such reverses that you are wholly unable to pay off the debt; you are completely without funds of any kind. Not only can you not pay the debt, but you are unable to pay even the interest on it. You go to the banker, explain your condition, and ask for a renewal of the note for one year's time. The banker agrees to that arrangement, and makes a new note, adding the unpaid interest to the original balance. The debt has not been paid; it is not discharged; in fact, it is accumulating. But you have won respite for one more year. Payment cannot be required or demanded of you before April 22, 1956. By renewing the note, and adding the interest to the face of it, you have made settlement of that obligation for one more year.
But let us suppose that on April 22, 1956, you are again unable to pay the note, or even the interest on it. Once more you go to the banker, explain your predicament, and ask that the note be extended still another year. The banker is willing; so the process is repeated. A new note is drawn up, the face of it is not $1,000.00 now, but is $1120.00 (the original loan plus the unpaid interest for two years). But by signing a new note, you have won respite for one more year. The debt is not paid, not one cent of it has been removed. But year by year it has grown bigger and bigger.
Then at last a rich relative of yours dies and leaves you a portion of his estate. Taking your inheritance money you go to the bank and pay off every cent of the debt you owe there — original loan, accumulated interest, and all.
This is exactly the picture of what happened in the rolling forward of sins from year to year. No sin was forgiven; no penalty was relaxed or remitted; no guilt was cleansed. But year by year the enormous load grew greater. The blood of animals made settlement for one year at a time. It did not forgive; it did not cleanse souls from guilt; such blood could not take away sins. But by God's arrangement it was possible for the offering of animal blood to settle the debt for one year at a time — no more. On the day of atonement in each year the whole debt of the past was remembered, brought up to date, and reinstated. The whole debt came due on that day. But the offering of animal sacrifices could win respite. Thus year by year the debt was renewed. Until finally Jesus came and died upon the cross "for the redemption of the transgressions that were under the first covenant." And by his sacrificial death the whole debt was paid off — wiped out and forgotten. Every Jew who had lived faithful under that old covenant, and had performed his duty toward God in the offering of the animal sacrifices, now had the whole indictment against him blotted out, his sins forgiven completely.
"Wherefore when he cometh into the world, he saith, "Sacrifices and offerings thou wouldst not, But a body didst thou prepare for me; In whole burnt offerings and sacrifices for sin thou hadst no pleasure; Then said I, Lo, I am come (and in the roll of the book it is written of me) To do thy will, 0 God." God's law could not be met, the demands of God's justice could not be satisfied by the blood of animals. It took the death of the Son of God, the blood of Christ himself to make final settlement for sin. There was no other sacrifice able to meet the conditions necessary for forgiveness. Christ's blood, and his alone, could pay the penalty for sin. Only that one who has been baptized into Christ, baptized into his death (Rom. 6:1-4) can hope to partake of the benefits secured by his sacrifice.