The famous of the Olney Hymns is of course Amazing Grace. If ever there was a hymn that defined the evangelical world, a pretty good case could be made for Amazing Grace. It is one of the most well known, sung, and beloved hymns of all time. Given its place in the evangelical world, it is curious to note the toing-and-froing that has surrounded the hymn. The last verse which begins "When we've been there a thousand years" is not original to Newton's work; instead it seems to have originated with a hymn written c.1790. It's appearance with Amazing Grace did not occur until the 1852 anti-slavery novel Uncle Tom's Cabin.
Newton had originally penned an alternative ending to Amazing Grace, originally titled "Faith's Review and Expectation", as a poem Newton wrote in connection to his New Year's Day 1773 sermon on 1 Chronicles 17.16-17. Rarely included in subsequent publications of the original poem, the sixth and final stanza of the 1773 version of Amazing Grace reads thus:
The earth shall soon dissolve like snow,
The sun forbear to shine;
But God, who call'd me here below,
Will be forever mine.
Another potential and major influence on this final stanza would be the third chapter of 2 Peter. This makes the reintroduction by some contemporary musicians of Newton's final stanza unfortunate and problematic. The 2 Peter of Newton's day left things pretty clear that this world would indeed dissolve, leaving a picture of the annihilation of creation: heaven and earth - the whole world.
10But the day of the Lord will come as a thief in the night; in the which the heavens shall pass away with a great noise, and the elements shall melt with fervent heat, the earth also and the works that are therein shall be burned up. 11Seeing then that all these things shall be dissolved...However, greater access to older Greek manuscripts (particularly codices Sinaitcus and Vaticanus) has changed the general reading of 2 Peter 3. Rather than being λυόμενα, dissolved, the earliest manuscripts have εὑρεθήσεται, exposed.
10But the day of the Lord will come like a thief, and then the heavens will pass away with a loud noise, and the elements will be dissolved with fire, and the earth and everything that is done on it will be disclosed.
Whilst the heavens will pass away and the elements dissolve, the sense of Peter's argument is that the earth will be purified and redeemed. Whilst there is conjecture as to Peter's understanding of the elements in verse 10, it is unlikely given the use of this phrase across the New Testament that this word refers to the periodic table. Rather, drawing on places such as Isaiah 24 and 35, Peter' presents the apocalyptic destruction of the forces of evil. What is clear is that there is a level of both continuity and discontinuity in the New Testament's assessment of the relation between this world and the world to come, a new heavens and a new earth which we long for righteousness to be at home. And that is the problem with the stanza; whilst it captures God's steadfastness contra the world that is attested to time and again in Scripture, it doesn't sufficiently draw on the entire biblical attestation to both discontinuity and continuity.
One can hardly blame Newton for this given what he was working with. But the same is not true for us today. We god's mercy and provision, we have access to Peter's vision in verses 10-13 of a world not annihilated, but purified, cleansed and made fit for righteousness to be at home. A world which is the same and different from our world today. A world which Jesus died for, and in which we shall enjoy God forever.