In his Preface to the Geneva Bible of 1550, titled Christ the End of the Law, John Calvin gave one of the most succinct and powerful explanations of the great exchange that occurs in the Gospel because of what Christ has done for believers. He wrote:

He humbled Himself, to exalt us; He made Himself a servant, to set us free; He became poor, to enrich us; He was sold, to buy us back; a Captive, to deliver us; Condemned, to procure our pardon; He was made a curse, that we might be blessed; the Oblation for sins, for our justification; His face was marred, to re-beautify ours; He Died, that we may have life. In such sort, that by Him, hardness is softened; wrath appeased; darkness made light; iniquity turned into righteousness; weakness is made strength; despair is consoled; sin is resisted; shame is despised; fear is emboldened; debt is paid; labor is lightened; Sorrow is turned into joy; Misfortune into blessing; Difficulties are made easy; Disorder made order; Division into union; Ignominy is ennobled; Rebellion subjected; Threat is threatened; Ambush is ambushed; Assault assailed; Striving is overpowered; War is warred against; Vengeance is avenged on; Torment tormented; Damnation damned; Destruction destroyed; Hell burned up; Death is killed; Mortality changed to immortality; In short, pity has swallowed up all misery; and Goodness all wretchedness; For all those things, which used to be the arms with which the Devil combated us, and the sting of death, are, to draw us forward, turned into instruments from which we can derive profit.1  

1. John Calvin Christ the End of the Law (London: William Cegg and Co. pp. 29-3, 1850) pp. 29-30