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The vision of the flying roll represents the principle of law as it will be administered by Israel when she fulfils the true ideal. It must be considered as a sequence following the realization of those preceding. Israel, cleansed and anointed by the Spirit, becomes again a moral standard and influence among the peoples. The law is a curse on evil in action and in speech, not merely pronounced, but active. Thus while Israel in realization is to stand as priest, mediating, and as light-bearer, illuminating, she is also to affirm and apply the principle of law in the world.
The vision of the application of law is immediately followed by one showing the result. The ephah is the symbol of commerce, and, according to the distinct prophecy, the woman sitting in the midst of the ephah is the personification of wickedness. Thus the principle of wickedness is to find its last vantage ground in commerce. This ephah dominated by wickedness is borne into the land of Shinar, where the tower of Babel was erected and the city of Babylon was built.
The teaching of the vision, therefore, is that even in the administration of the ultimate, the spirit of lawlessness will exist, finding its vantage ground, as we have seen, in commerce, but that it will be restricted in its operations, being compelled to occupy its own house in its own land on its own basis.
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Morgan, G. Campbell. "Commentary on Zechariah 5". "Morgan's Exposition on the Bible". https://www.studylight.org/
the Second Week after Epiphany