Commentaries:
Barnes' Notes
While there is hope - While he is still young, and capable of being reformed.
Crying - Better, as in the margin, Do not set thy soul on his destruction; words which either counsel forbearance in the act of chastisement (compare Ephesians 6:4; Colossians 3:21); or urge that a false clemency is a real cruelty. The latter sense is preferable. The father is warned that to forbear from chastising is virtually to expose the son who needs it to a far worse penalty.
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