Which Covenant Theology?

Since there has been no little stir over my blog series on Hyper-dispensationalism, I figured I’d share a chunk from John Owen’s commentary on Hebrews 8.

…there is much express mention made, not only in this, but in various other places of the Scripture also, of two distinct covenants, or testaments, and such different natures, properties, and effects, ascribed to them, as seem to constitute two distinct covenants. This, therefore, we must inquire into; and will first declare what is agreed to by those who are sober in this matter, though they differ in their judgments about this question, whether two distinct covenants, or only a twofold administration of the same covenant, be intended. And indeed there is so much agreed on, as that what remains seems rather to be a difference about the expression of the same truth, than any real contradiction about the things themselves, For,

Four Agreements about the Two Administrations

1. It is agreed that the way of reconciliation with God, of justification and salvation, was always one and the same; and that from the giving of the first promise non was ever justified or saved but by the new covenant, and Jesus Christ, the mediator of it. The foolish imagination before mentioned, that men were saved before the giving of the law by following the guidance of the light of nature, and after the giving of the law by obedience to the directions of it, is rejected by all that are sober, as destructive of the Old Testament and the New.

2. That the writings of the Old Testament, namely, the Law, Psalms, and Prophets, do contain and declare the doctrine of justification and salvation by Christ. The church of old believed this, in that the doctrine mentioned is frequently confirmed in the New Testament by testimonies taken out of the Old.

3. That by the covenant of Sinai, as properly so called, separated from its figurative relation to the covenant of grace, none was ever eternally saved.

4. That the use of all the institutions in accordance with which the old covenant was administered, was to represent and direct to Jesus Christ, and his mediation.”[1]

In simpler terms,

1. Despite the difference in covenantal administrations, all people all the time are saved by the same grace, same mediator, and same justifying faith. It’s not as if people were saved by works in the Old Testament and people were saved by grace in the New Testament. All instances of salvation are by God’s grace.
2. The Old Testament testifies to this fact; justification by faith alone in Christ alone is not a new reality.
3. No one was saved by the  covenant and laws given at Sinai. Put, in other terms by the author of Hebrews, “it is impossible for the blood of bulls and goats to take away sins,” (Hebrews 10:4).
4. All of the features and requirements laid out in the Old Testament covenants were ultimately there to point us to Christ.

I’m curious to know which Dispensationalists agree and don’t agree with these points. But, it’s good to know a kind of “common denominator” in the various strands of covenant theology.

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[1] John Owen and Nehemiah Coxe. Covenant Theology: From Adam to Christ (Palmsdale: Reformed Baptist Academic Press, 2005), 181.