Biblical Inerrancy: Reality or Rhetoric?
by Arthur D. Ally Vol. IX, No. 8, September 1996
As many know, an ongoing financial controversy has been brewing for the past several
years within the Southern Baptist Convention. The controversy relates to the SBC Annuity Board's
"moral screening" of the companies in which the Board invests. An increasing number of
concerned people are questioning the moral values promoted by some of the companies in which
the Board invests SBC pastoral retirement funds. Yet the full implications of the issue -- and what
must be done about it -- are unclear to most Baptists.
Many have repeatedly raised this issue in both meetings and correspondence with the Annuity Board. Recently in New Orleans, it even reached the convention floor for a brief debate.
Certainly, the Board is to be commended for adopting an investment policy with the stated goal of avoiding companies that are "publicly recognized as engaged in activity contrary to Southern Baptist principles." And the Board has taken steps to divest the Convention of its investments in alcohol and tobacco-related firms.
But the Board remains lax in applying similar screening rules to companies that promote or endorse abortion, pornography, and homosexuality. Jesus spoke clearly of the eventual failure of a divided kingdom. He preached eloquently about the unresolvable conflict of trying to serve both God and worldly wealth ("mammon"). By applying a loose screening policy (on abortion, pornography, and homosexuality) to its pastoral retirement investments, the Board is financing immorality today in order to care for Baptist pastors tomorrow. What could be more inconsistent?
Southern Baptists agree that drunkenness, abortion, pornography, and homosexuality are contrary to basic biblical values. Yet the application of a consistent moral screen to corporate investments strikes some as extreme. They say, "It's a fallen world. Just how far are we to go to avoid financing wickedness? Are we to strain out every gnat?"
Scripture clearly states that "there is no one righteous, not even one." This is as true in corporate America as it is with individuals. It is obvious that total purity in the marketplace of a fallen world is impossible. However, there is a clear difference between a corporation that is passively unrighteous and one which aggressively pushes an unholy agenda. Whether or not we buy from or invest in such companies becomes a matter of honoring or dishonoring the Lord. So how are wise and godly investors to discern where to invest the funds God has entrusted to them?
That's where the issue of Scriptural inerrancy enters the picture. We must not forget the SBC's recent reaffirmation of biblical inerrancy. The Convention has plainly stated it believes the Bible to be God's perfect, inerrant Word. If that affirmation is true, the SBC has no choice but to follow that perfect Word in every area of Convention life and practice -- especially in its investments.
This issue can get complicated and confusing, so let's examine it in light of Scripture. Here are a few facts and questions to consider, and some related Bible verses upon which we can meditate:
Fact: When we invest in corporate stocks (or bonds) we become contractually linked to that firm. Purchasing stock means that we become part owner of companies in which we invest-even to the point of sharing in their profit or loss.
Question: Are we wisely and biblically separated from business partnerships that compromise our Christian faith?
Scripture Says:
*Enter not into the path of the wicked, and go not in the way of evil men. Avoid it, pass not by it, turn from it, and pass away. (Prov. 4:14, 15)
*Wherefore come out from among them and be ye separate, saith the Lord, and touch not the unclean thing; and I will receive you. (2 Cor. 6:17)
*Also refer to Job 11: 14,15; Psalm 1:1; Prov. 1:15,16; 1 Cor. 10:21; 15:33; and 2 Cor. 6:14.
Fact: As God's people, we must be faithful (obedient) stewards (managers) of the resources He has entrusted to us.
Question: To what extent are we willing to sacrifice our spiritual integrity on the altar of investment opportunity?
Scripture Says:
*Ye that love the Lord, hate evil; he preserveth the souls of his saints; he delivereth them out of the hand of the wicked. (Psalm 97: 1 0)
*Moreover it is required in stewards, that a man be found faithful. (I Cor. 4:2)
*Also refer to Psalm 101:6; Prov. 2:8; 20:6; 28:20; Luke 12:42,43; and I Tim. 6:20.
Fact: We will be held accountable throughout eternity for our faithfulness (or lack thereof) in managing the Lord's resources.
Question: What will happen to us when we stand before the Master in eternity to give an account of how we handled the earthly resources He entrusted to us?
Scripture Says:
*Now if any man build upon this foundation gold, silver, precious stones, wood, hay, stubble; every man's work shall be made manifest: for the day shall declare it, because it shall be revealed by fire; and the fire shall try every man's work of what sort it is. If any man's work abide which he hath built thereupon, he shall receive a reward. If any man's work shall be burned, he shall suffer loss: but he himself shall be saved; yet so as by fire. (I Cor. 3:12-15)
*For we must all appear before the judgment seat of Christ; that every one may receive the things done in his body, according to that he hath done, whether it be good or bad. (2 Cor. 5:10)
*Also refer to I Chron. 29:12 and Matt. 25:19-2 1.
Scripture clearly tells us to separate ourselves from the affairs and practices of the world. We are not to partner with the world -- even if our intent is to reform it. Scripture guarantees us that each of us will someday stand before God and answer for the quality of our stewardship.
One way to demonstrate that we take our stewardship seriously is to apply aggressive moral screening principles to our investments. Filtering investment opportunities through a consistent, biblically based moral screen is not impractical idealism -- in fact, it is one of the most practical out workings of the Christian life. Interestingly enough, investors need not sacrifice excellent overall return when they carefully screen their investment plans. And the eternal rewards of careful screening may well be immeasurable! I urge the SBC Annuity Board to more aggressively apply biblical principles of moral investment screening to the retirement funds it is managing.
Especially in light of eternity, too much is at stake to risk any other approach.
[Arthur D. Ally is President of the Timothy Plan mutual fund. The Timothy Plan is a fund designed to provide a morally principled yet effective approach to investing that is consistent with traditional Christian values. The Timothy Plan is headquartered in Winter Park Florida (1-800-846-7526). Permission is hereby granted to freely copy and distribute this article, provided the copyright notices are included intact. Copyright 1996 by Arthur D. Ally. Scripture taken from the HOLY BIBLE, King James Version.]