Apparently, the brass plates of Laban contained the Psalms. Jacob is quoting Psalms 118:22 which states, The stone which the builders refused is become the head stone of the corner. (Note that the Jacob uses the phrase ‘the head of their corner’—leaving out the word “stone.” This underscores the significance of italicized words seen in the Bible. When a Bible word is italicized, it means that there was no representation for that word in the original text and that the translators placed it there so that the phrase would make more sense. Thus we see that Jacob, quoting from the brass plates, did not include the word, not because it is not helpful, but because it was not represented in his copy of Psalms.) This scriptural passage is transcendent because it prophecies that the Jews will reject the Savior. Granted the language is not plain and simple but the meaning is unequivocal. The stone is Jesus Christ. It is rejected by the builders—the Jews. Yet the rejected stone is to become the head of their corner, the chief cornerstone, or the great, and the last, and the only sure foundation, upon which the Jews can build.
Jacob 5 The allegory of the olive-tree
This allegory tells the story of the Lord’s dealings with the house of Israel. This relationship is of utmost importance because it is so commonly dealt with in other scriptures. Anyone who proclaims to understand the scriptures and the dealings of the Lord with his people must understand this allegory.
Joseph Smith once revealed a secret to understanding a passage of scripture, “I have a key by which I understand the scriptures. I enquire, what was the question which drew out the answer, or caused Jesus to utter the parable?” (Teachings, p. 276-7). If we apply this rule to understanding the allegory of the olive-tree, we only have to look at Jacob 4:17-18, And now, my beloved, how is it possible that these, after having rejected the sure foundation, can ever build upon it, that it may become the head of their corner? Behold, my beloved brethren, I will unfold this mystery unto you. This is the question which prompted the recital of the allegory of the olive-tree, “how can the house of Israel ever be established in Christ after having rejected Him?” The Lord will demonstrate how to get good fruit out of once wicked branches.
By way of introduction, the allegory must be divided into three main sections. Section 1 is described by verses 1-14. Section 2 is described by verses 15-28. And section 3 is described by verses 29-75. Each of these sections is divided by the passage of a long time period, see verses 15 and 29. Therefore, there are three main visits of the Lord and his servants to the vineyard. Each visit is separated by the passage of a lot of time. Keep this in mind as you read for the chronology of the allegory is important and will help us with the correct interpretation. Another help is to understand what the figures in the allegory represent. The Book of Mormon Institute Manual gives a key:
ITEM INTERPRETATION
1. The vineyard
1. The world
2. Master of the vineyard
2. Jesus Christ
3. The servant
3. The Lord’s prophets
4. Tame olive tree
4. The house of Israel, the Lord’s covenant people
5. Wild olive tree
5. Gentiles
6. Branches
6. Groups of people
7. The roots of the tame olive tree
7. The gospel covenant and promises made by God that constantly give life and sustenance to the tree
8. Fruit of the tree
8. The lives or works of men
9. Digging, pruning, fertilizing
9. The Lord’s work with his children which seeks to persuade them to be obedient and produce good fruit
10. Transplanting the branches
10. Scattering of groups throughout the world or restoring them to their original position
11. Grafting
11. The process of spiritual rebirth wherein one is joined to the covenant
12. Decaying branches
12. Wickedness and apostasy
13. Casting the branches into the fire
13. The judgment of God
Joseph Fielding Smith
“But we have something in the Book of Mormon that, if we did not have other truth expressed in it, would be sufficient evidence of the divinity of this book. I have reference to the fifth chapter of Jacob…I think that as many as ninety-nine out of every hundred who read the Book of Mormon, read this parable through without grasping the fullness and meaning of it. And I think this is one of the greatest passages in the Book of Mormon…No matter how many times you have read the Book of Mormon,…take a few minutes at some convenient time and sit down and just read carefully every word in the fifth chapter of the Book of Jacob…No greater parable was ever recorded…I tell you, my brothers and sisters, Joseph Smith did not write it. That was written by the inspiration of the Almighty…When you read that chapter through if you cannot say in your soul, ’this is absolutely a revelation from God,’ then there is something wrong with you.” (Answers to Gospel Questions, vol. 4, p. 203-7 as taken from Latter-day Commentary on the Book of Mormon compiled by K. Douglas Bassett, p. 183-4)