Praise to the Lord, who doth prosperWe are reminding ourselves (and those within hearing distance) that it is the Lord who both prospers our work and defends us from evil and temptation. We are also reminding ourselves (and others) that His goodness and mercy are not just theological attributes or divine characteristics; they are actively present with us even now, attending to us daily. They are working in our lives even as we sing those words.
Thy work and defend thee;
Surely His goodness and mercy
Here daily attend thee.
Ponder anew what the Almighty can do,
If with His love He befriend thee.
And as a result of that truth, we should ponder anew what God can do if we know it to be true that he has befriended us in love. If the thrice-holy God of the universe can befriend sinners with His love in and through His only Son, ponder what else He can do. And what He will do.
And ponder it anew. Oh, I'm sure you may have thought about that before, but think about it again. Think about it today. Think about it right now. Make it fresh. Ponder anew what the Almighty can do, if you know that He has befriended you in love.