2 Poor prisoners to relieve with gracious aid, 3 And captives to redeem with price of brass,

price > payment brass > money

4 From Turks and Saracens, who them had stayed;

Saracens > {Arabs or Moslems of the time of the Crusades; pagans} stayed > detained, taken hostage

5 And though they faulty were, yet well he weighed

they > (The hostages as well as their captors) faulty > guilty; at fault

6 That God to us forgives every hour

hour > hour; moment

7 Much more than that why they in bonds were laid,

why > [for which]