A peculiar treasure - A costly possession acquired with exertion, and carefully guarded. The special relation in which Israel stands, taken out of the pagan world and consecrated to God, as His slaves, subjects, and children, determines their privileges, and is the foundation of their duties. The same principle applies even in a stronger sense to the Church. See Acts 20:28; 1 Corinthians 6:20; 1 Peter 2:9.
All the earth is mine - It was a point of great practical importance, to impress upon the Jews that their God was no mere national Deity. Compare Deuteronomy 10:14; Psalms 24:1.