The lyrics you provided are actually for a different song titled "Precious Memories," not Waylon Jennings's song. The song you mentioned is a gospel hymn written by J.B.F. Wright in 1925. However, if you would like an explanation of the song you mentioned, "Precious Memories" by Waylon Jennings, I can provide that as well. "Precious Memories" by Waylon Jennings is a country song that was released in 1996. It reflects on the importance of memories and the sentimental value they hold. The lyrics convey the idea that as we walk through life, we are uncertain about what the future holds. However, when we take the time to reflect and remember, hope and a sense of sacredness arises. The lyrics express the strong influence of memories, specifically during peaceful moments at midnight. They indicate that these memories flood the soul, evoking feelings of hope, nostalgia, and reverence. The repetition of the lines emphasizes the significance and lingering impact of these precious memories. Overall, the song suggests that memories have a profound impact on individuals, providing solace, comfort, and a connection to the past. It highlights the importance of treasuring these memories and the emotions they evoke.