Shedd:

1) These two forms and grades of grace, so plainly described in the Scripture texts above cited, are mentioned in the Westminster Confession, vii. 3, “Many by his fall, having made himself incapable of life by that [legal] covenant, the Lord was pleased to make a second, commonly called the covenant of grace, wherein he freely offered unto sinners life and salvation by Jesus Christ, requiring of them faith it him, that they may be saved, and promising to give unto all those that are ordained to life his Holy Spirit, to make them willing and able to believe.” According to this statement there are two things contained in the covenant of grace: (a) An offer to sinners of life and salivation by Jesus Christ, requiring of them faith in him, that they may be saved; and (b) a promise to give unto all those that are ordained to life the Holy Spirit, to make them willing and able to believe. The “offer” in the covenant of grace is made to all sinners without exception, but the “promise” in the covenant is made only to “those that are ordained to life,” or the elect. Ths “offer” ie common grace; the “promise” is special grace. The “offer” is taught in such Scriptures as, “Go ye into all the world and preach the gospel to every creature. He that believeth shall be saved.” Mark 10:15. “God so loved the world that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” John 3: 16. The “promise” is taught in such Scriptures as, “A new heart also will I give you, and a new spirit will I put within you, and I will take away the stony heart of flesh, and I will give you an heart of flesh,” Ezek. 30: 26, 27. “All that the Father giveth me shall come te me; and him that cometh to me [because given by the Father] I will in no wise cast out, No man can come to me, except the Father which hath sent me, draw him.” John 6:87,44. William G.T. Shedd, Calvinism Pure and Mixed (New York: Charles Scribner’s Sons, 1893), 97-98.

2) The greater includes the less. If God’s mercy is great enough to move him to make a vicarious atonement for man’s sin, it is certainly great enough to move him to secure the consequences of such an act. If God’s compassion is great enough to induce him to lay man’s punishment upon his own Son, it is surely great enough to induce him not to lay it upon the believer. If God so loves the world as to atone vicariously for its sin, he certainly so loves it as to remit its sin.W.G.T. Shedd, Dogmatic Theology, 2:393.

3) Sometimes the term “world” means all mankind, in distinction from the Jews.Matthew 26:13, “This gospel shall be preached in the whole world.” Matthew 13:38, “The field is the world.” John 3:16, “God so loved the world.” 1 Corinthians 1:21, “By wisdom the world knew not God.” 2 Corinthians 5:19, “Reconciled the world unto himself.” 1 John 2:2, “Propitiation for the sins of the whole world.” These texts teach that redemption is intended for all races, classes, and ages of men. W.G.T. Shedd, Dogmatic Theology, 2:480.