Nearly all hymnals, including the Psalter Hymnal, delete two of Bode's original six stanzas. The hymn originally began with the words "O Jesus, we have promised" and included a reference to Luke 9:57: "I will follow you wherever you go." The text, especially stanza 4, has been altered for publication in the Psalter Hymnal.
The word "promised" in stanza 1 refers to the vows taken at confirmation/ profession of faith. This hymn is a prayer for Christ's presence on the Christian pilgrimage–in the face of temptation and external sin (st. 2) and internal guilt (st. 3)–and it assures us that our promises (st. 1) come in response to the promises of Christ (st. 4) .
Psalter Hymnal Handbook