In the quote below, the author explains this, before going on to deal with the verb logizomai, of which elogisthe is an inflection.
"There was evaluated is my own translation of elogisthe. The
Hebrew of the original from which Paul quotes, which is Genesis 15:6,
is translated by the AV as '...and he counted it to him for
righteousness'. Young's Literal gives '...and He reckoneth it to him -
righteousness'. Green's Literal has '...and he it reckoned to him for
righteousness'.
However, I am informed that Hebrew does not always require a subject
to b e stated and that, in this place, the idiomatic Hebrew can be
accepted as 'it was counted to him for righteousness'.
This idiomatic structure has been adopted by both the AV and Young's
Literal Translation in Psalm 106:31 where the Psalmist writes: 'and
that was counted unto him [Phinehas] for righteousness unto all
generations for evermore' (AV). 'And it was reckoned to him to
righteousness. To all generations - unto the age' (YLT)...
The evaluation of what is within the believing Abraham is expressed in
Genesis in Hebrew and is then further expressed in Greek in the
Septuagint (LXX). Paul quotes this place three times in Romans 4:3,
Romans 4:22 and Galatians 3:6, then James quotes it in James 2:23...
The Septuagint rendering, Paul's quotations and James's quotation of
the five words of the second half of the text appear, to me, to be
more correctly rendering, in Greek, the original Hebrew of the
passage, than the available English translations of the Hebrew which
Moses wrote, as preserved in the Masoretic text. The Greek is offering
a middle passive verb.
The verb elogisthe has no subject other than that implied by its
inflection. Bagster's Analytical Lexicon says that his word is the
third person singular, aorist 1, indicative passive. To say 'it' was
accounted, or reckoned, is inappropriate as there is not 'it' in the
passage. There is Abraham and there is God and there is Abraham's
faith. To say 'it' was accounted, or reckoned, is stating that the
faith, itself, was accounted or reckoned unto righteousness. This
implies that faith is being viewed as if it were righteousness. Which
it is not. It is a different thing. I do not believe that this is what
the words mean. Something, yes, is being accounted or reckoned or
evaluated. That something is within Abraham. But faith is not
righteousness, as such. Nor is faith a substitute for righteousness,
as such.
Further, the verb logizomai, of which elogisthe is an
inflection, is one of a type of verbs classed as deponent verbs over
which there is some controversy. My own understanding of the matter is
that they exhibit passive inflections but are not entirely passive in
their usage. They may be reflexive in nature, that is to say they may
involve activity directed at the self, and this can be called a
'middle' voice. I can be active. I can be passive, or I can respond to
the activity of another. The activity is not my own initiative,
actively. I respond to the initiative of another. It is not active,
but rather reactive.
Abraham believed God. And there was a response. The verb elogisthe
does not say who responded. It just states the fact of a response. The
response was to him (autw is the dative) and the response was unto
(it is eis) righteousness. I prefer not to use 'it'. I prefer to
leave 'it' unspoken and to say 'there was'.
One could leave the place blank and say: Abraham believed God ---and
was evaluated to him unto righteousness.
The quotation by James further clarifies what is happening. James
insists that faith without works is dead, James 2:17 and 26. And James
takes Abraham as an example of a lively faith, a faith that produced
works of faith. Which is why I say that faith, in and of itself, is
not a substitute for righteousness. It is only faith - of the Abraham
kind - that is unto righteousness!
Abraham believed God and in response to Abraham's lively faith an
evaluation was made. It was made to Abraham, personally. And it was
unto righteousness. For the righteousness had not - yet -been revealed. But so certain is that revelation, since it is God who has
evaluated and since it is God who shall reveal it, that Abraham is -
already - justified. There is absolutely no possibility that God will
not do as he intends and purposes.
So believed Abraham. He believed God would do as he had spoken. There
was not a shred of doubt in his mind. He considered not his body, now
dead; nor yet the deadness of Sarah's womb. Nothing was relevant, once
God had promised. Abraham believed God. And there was evaluated, to
him - unto righteousness.
The reason I use 'evaluated' is in acknowledgement of the word
logia, which is arguable the root of logizomai (reckon, count) or at least a related word, and which the AV translates as
'collection' and 'gathering' in II Corinthians 16:1-4, the only two
appearances of the word in scripture. I think the AV has slightly
missed the point in these four verses and left a puzzle as to why Paul
desires money to be stored at home in order to avoid collecting it
together when he comes. If he wants to avoid collecting it when he
comes, then should it not be gathered together, beforehand?
The key to the puzzle is the word thesaurizo which is not quite 'lay
in store' but more 'treasure' as the word is translated in Romans 2:5,
and elsewhere, 'treasure up wrath'. Treasuring up is not a matter of
heaping up piles of low denomination coins under the bed. 'Treasuring
up' involves consolidating the treasure into higher denomination
coinage as the pile increases and gets out of hand.
I understand that Paul is encouraging the generous to lay aside money
on a weekly basis and, over time, to 'treasure it up' - using
moneychangers if need be - to higher denomination coinage. Rather than
wait till he comes and then a number of people produce bags and bags
of pennies which - then - need to be changed up so that a small number
of high denomination coins can be transported by the chosen person who
shall accompany Paul. Else, they will need several donkeys to carry all
the small denomination coinage.
...So, 'treasure it up' before he comes. Which I understand to be the
idea of logia - not 'collecting or gathering' but 'consolidation'.
Consolidation into high value. It is a matter of value.
Thus for logizomai. One sees something and one evaluates it.
'Count' yes, if it is a countable noun like coins or chickens or
flagons of wine. But 'evaluate' if it a mass noun like milk or butter
or olive oil. And 'evaluate' even more so, if it be a tiny, little,
single diamond. Or... the faith of such as Abraham.
Having done my own research on the word logizomai, I have
recently discovered that 'evaluate' is given by BDAG (Fifth edition
1958) as one of the secondary meanings. Primarily they give 'reckon,
calculate, count, take into account' in the context of credit. But
secondarily they list 'evaluate, estimate, look upon as, consider'
referencing Acts 2:26 in particular: Therefore if the un-circumcision
keep the righteousness of the law, shall not his un-circumcision be
counted (evaluated) for circumcision?
Abraham believed God - and there was value in such faith as Abraham
possessed. And there was a response to the value that was in such a
faith. There was evaluated, to Abraham, unto righteousness.
Once God was manifested in flesh - once the righteousness of God was
revealed at Golgotha, within the crucified Saviour - then all would be
resolved. But in the meantime, since God Almighty has done the
evaluation and since God Almighty is he who will - without possibility
of a shadow of turning ever appearing - who will do as he promised,
then so certain is the case, that Abraham is justified: there and
then. Amen." Jehovah Tsidkenu, Nigel Johnstone, pages 86 - 90,
http://www.belmontpublications.co.uk