“Even the principle of sola scriptura (“Scripture alone”), according to the sharpest Protestant scholars, means that the Bible is the ultimate authority—above councils and popes and any tradition—but not that no commentary or tradition may be cited or utilized.”
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**From NEWADVENT.org **Sola scriptura (“Bible alone”)
The [first] objective [or formal] principle proclaims the canonical Scriptures, especially the New Testament, to be the only infallible source and rule of faith and practice, and asserts the right of private interpretation of the same, in distinction from the Roman Catholic view, which declares the Bible and tradition to be co-ordinate sources and rule of faith, and makes tradition, especially the decrees of popes and councils, the only legitimate and infallible interpreter of the Bible. In its extreme form Chillingworth expressed this principle of the Reformation in the well-known formula, “The Bible, the whole Bible, and nothing but the Bible, is the religion of Protestants.” Protestantism, however, by no means despises or rejects church authority as such, but only subordinates it to, and measures its value by, the Bible, and believes in a progressive interpretation of the Bible through the expanding and deepening consciousness of Christendom. Hence, besides having its own symbols or standards of public doctrine, it retained all the articles of the ancient creeds and a large amount of disciplinary and ritual tradition, and rejected only those doctrines and ceremonies for which no clear warrant was found in the Bible and which seemed to contradict its letter or spirit. …"
First of all, it is not a claim that the Bible contains all knowledge. The Bible is not exhaustive in every detail. John 21:25 speaks to the fact that there are many things that Jesus said and did that are not recorded in John, or in fact in any book in the world because the whole books of the world could not contain it. But the Bible does not have to be exhaustive to function as the sole rule of faith for the Church. We do not need to know the color of Thomas’ eyes. We do not need to know the menu of each meal of the Apostolic band for the Scriptures to function as the sole rule of faith for the Church.
Secondly, it is not a denial of the Church’s authority to teach God’s truth. I Timothy 3:15 describes the Church as “the pillar and foundation of the truth.” The truth is in Jesus Christ and in His Word. The Church teaches truth and calls men to Christ and, in so doing, functions as the pillar and foundation thereof. The Church does not add revelation or rule over Scripture. The Church being the bride of Christ, listens to the Word of Christ, which is found in God-breathed Scripture.
Thirdly, it is not a denial that God’s Word has been spoken. Apostolic preaching was authoritative in and of itself. Yet, the Apostles proved their message from Scripture, as we see in Acts 17:2, and 18:28, and John commended those in Ephesus for testing those who claimed to be Apostles, Revelation 2:2. The Apostles were not afraid to demonstrate the consistency between their teaching and the Old Testament.
And, finally, sola scriptura is not a denial of the role of the Holy Spirit in guiding and enlightening the Church.
Sola scriptura (Latin ablative, “by Scripture alone”) is the Protestant Christian doctrine that the Bible is the supreme authority in all matters of doctrine and practice. Sola scriptura does not deny that other authorities govern Christian life and devotion, but sees them all as subordinate to and corrected by the written word of God.
Sola scriptura, however**, does not ignore Christian history and tradition when seeking to understand the Bible.** Rather, it sees the Bible as the only final authority in matters of faith and practice.