"When I Survey" is a song that reflects on the wondrous cross on which Jesus died. The lyrics describe the speaker's realization that everything they have or could gain in this life is worthless compared to the sacrifice Jesus made for them on the cross. The song acknowledges the depth of sorrow and love that flowed from Jesus during his crucifixion, as well as the irony of a crown of thorns being considered rich. The song also acknowledges the insufficiency of any offering the speaker could make to repay Jesus for his sacrifice, but concludes with the recognition that Jesus' love is so amazing and divine that it demands the speaker's soul, life, and all. Throughout the song, the speaker expresses gratitude and love for Jesus, thanking him for the cross and acknowledging that the cross is the reason for their salvation. Overall, "When I Survey" is a song that encourages reflection on the magnitude of Jesus' sacrifice on the cross and inspires gratitude and devotion in response.