In verse 45, Elizabeth said concerning Mary, "There shall be a completion of the things spoken to her from the Lord." By exercising her spirit, Elizabeth had the utterance to foretell the completion of the things spoken by the angel to Mary in verses 30-37, to confirm them. Elizabeth's insight helped her to confirm, by foretelling their completion, the things that the Lord had spoken to Mary through the angel.
By reading Elizabeth's prophecy we can see what kind of person she was. Her prophesying comprised all the elements of a proper prophecy.
Mary's prophecy in Luke 1:46-55 is deeper and higher than that of Elizabeth. Although Elizabeth was older and more experienced than Mary, the spiritual content in Mary's speaking is higher and deeper.
In verses 46-47 Mary said, "My soul magnifies the Lord, and my spirit has exulted in God my Savior." The verb tenses used in this sentence indicate that first Mary's spirit exulted in God her Savior; then her soul followed to magnify the Lord. To exult is more than merely to be happy or joyful. It is to rejoice with shouting and excitement. To magnify the Lord is to show or declare the Lord to be great, exalted, or extolled. Mary's poetic expression indicates that she had the proper spiritual experience.
The utterance of Mary's prophesying was based, first, on her knowledge of the Scriptures. Her entire prophecy was composed of quotations from the Old Testament. By this we can see that Mary as a young woman was very familiar with the Old Testament. Mary was the right person, the proper vessel, selected by God to be the channel for the Savior's incarnation. In ancient times, females were not as well educated as males. However, although both Mary and Elizabeth were females, they both had gained a great deal of knowledge from the Old Testament.
I hope that some, especially the young people, will compose a praise or a prayer by quoting all the special terms from the current ministry in the Lord's recovery, such as "God's New Testament economy," "the New Testament priesthood of the gospel," "the divine dispensing of the divine Trinity," and "the mingling of divinity with humanity." In order to do this we must be well acquainted with all these spiritual terms. Many Christians can sing songs concerning God's goodness and mercy, but who has composed a song concerning God's New Testament priesthood of the gospel to fulfill His New Testament economy? God's goodness and mercy are elementary matters; God's New Testament priesthood of the gospel to fulfill His New Testament economy is much higher.