Jeremiah 34:15
And ye were now turned, and had done right in my sight, in proclaiming liberty every man to his neighbour; and ye had made a covenant before me in the house which is called by my name: And ye were now turned, and had done right in my sight, in proclaiming liberty every man to his neighbour; and ye had made a covenant before me in the house which is called by my name:
The verse belongs to the history of the two years before Jerusalem fell. The chapter stands late in the work in Judah, coming after chapter 21 and before chapter 37 in chronological order, though the prophecies after chapter 20 are not placed in chronological order; that displacement makes no change in the teaching since each chapter itself clearly indicates its chronology. The verse stands among chapters 22 through 39 containing Messianic prophecies carried forward through the restoration from Babylon to the more glorious restoration under Christ Jesus the Lord.
Proclaiming liberty every man to his neighbour, that is to Hebrew servants and servants, and making a covenant before God in the house called by his name, that is the temple dedicated to his name, was doing what was right in his sight. The release was part of carrying out the scriptural command concerning the jubilee, including freeing those who were oppressed or in debt, which had not been done since the time of Moses, showing an intent to observe the jubilee.
The surrounding passage shows that the covenant of liberty was made with a sacrifice with pieces set apart from each other, with the covenant parties passing between the pieces. The proclaimed liberty had to be carried out; taking back the freedom and re-enslaving those who had been freed polluted the Lord's name and was a grave injustice and disobedience, forming part of the indictment against Judah and bringing God's judgment through Nebuchadnezzar and destruction by him. The chapter shows that permitting the ownership of slaves was never pleasing to God.
The covenant of liberty helps show that God's covenant with Abraham was a covenant of liberty from sin, a bondage from which freedom is found only in Christ, with the sacrifices representing Christ as the great Sacrifice who gives freedom from sin. The verse supports securing liberty for people and their descendants.