Now the just shall live by faith: but if any man draw back, my soul shall have no pleasure in him. Now the just shall live by faith - Ὁ δε δικαιος εκ πιστεως ζησεται· But the just by faith, i.e. he who is justified by faith, shall live - shall be preserved when this overflowing scourge shall come. See this meaning of the phrase vindicated, Romans 1:17. And it is evident, both from this text, and Galatians 3:11, that it is in this sense that the apostle uses it.
But if any man draw back - Και εαν ὑποστειληται· But if he draw back; he, the man who is justified by faith; for it is of him, and none other, that the text speaks. The insertion of the words any man, if done to serve the purpose of a particular creed, is a wicked perversion of the words of God. They were evidently intended to turn away the relative from the antecedent, in order to save the doctrine of final and unconditional perseverance; which doctrine this text destroys.
My soul shall have no pleasure in him - My very heart shall be opposed to him who makes shipwreck of faith and a good conscience. The word ὑποστελλειν signifies, not only to draw back, but to slink away and hide through fear. In this sense it is used by the very best Greek writers, as well as by Josephus and Philo. As dastards and cowards are hated by all men, so those that slink away from Christ and his cause, for fear of persecution or secular loss, God must despise; in them he cannot delight; and his Spirit, grieved with their conduct, must desert their hearts, and lead them to darkness and hardness.