Commentaries:
Barnes' Notes
It is a good thing to give thanks unto the Lord - literally, "Good is it to give thanks unto Jehovah." That is, the act is appropriate; the effect is good.
(1) The thing itself is appropriate, for there is much, under all circumstances, to be thankful for: life, health, food, raiment, air, water, friends, recollections, hopes - and, above all, the blessings of redemption, and the assurance that we may be happy forever. Many of these things may be found in the condition of all; but if all else fail, the hope of heaven - the assurance that the Redeemer died - the offer of salvation - cannot fail. That is ours, and cannot be taken away.
(2) The effect is good. It is a desirable state of mind. It tends to happiness, contentment, peace. A gloomy mind makes all things around more gloomy; an unthankful mind is an unhappy mind; a murmuring, complaining, dissatisfied mind makes its possessor wretched, and all around him miserable.
(3) It is good as it is due to God. For all his favor we should be thankful - and all that we enjoy is his gift.
(4) It tends much to lessen the real troubles and afflictions of life to dwell on those things for which we should be thankful.
And to sing praises unto thy name - Unto thee. As this psalm was designed for the "Sabbath day," this proves that one of the appropriate services of the Sabbath is "praise." It is a day when it is fit to recall the mercies of God to our recollection; and the remembrance of those mercies, and their celebration by appropriate songs, tend to diffuse joy over all the coming days of the week.
O Most High - God exalted over all. The fact that "he" is exalted over all - over us - over our friends - over all worlds - is an appropriate thought when we come before him to praise him; appropriate at all times, and in all circumstances of life.
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