The first part of the chapter is a continuation of the story in chapter 46. Jacob met Pharaoh and they talked a little then Jacob's people are given v11 ..."the best of the land in the land of Rameses..."
Genesis 47:15 "And when money failed in the land of Egypt, and in the land of Canaan, all the Egyptians came unto Joseph and said Give us bread: for why should we die in thy presence? for the money faileth."
The famine is so great that life has come down to bear necessities for the people. Joseph, thanks to God's warning, has stored for the 7 years of famine. At first, the people could just buy what they needed from the storehouses, but now the famine drags on and the money has run out. Joseph offered them bread for their cattle. In a year v18 they came again for bread but even the cattle were gone.
v19 "Wherefore shall we die before thine eyes, both we and our land? buy us and our land for bread and we and our land will be servants unto Pharaoh: and give us seed, that we may live and not die that the land be not desolate."
Joseph did as they asked and removed the people v21 to cities. Joseph bought all the land except the land of the priests. Joseph then gave them seed to plant the land with the understanding that one-fifth of the grain would go to Pharaoh and four-fifth's to the people.
v27 "And Israel dwelt in the land of Egypt, in the country of Goshen and they had possessions therein, and grew and multiplied exceedingly."
Jacob lived in Egypt 17 years and now it was almost time for him to die. He brought Joseph to him and told of the promise of God Almighty(c48). He also made him promise to not bury him in Egypt.
v31 "And he said, Swear unto me. And he sware unto him. And Israel bowed himself upon the bed's head."
It is a chilling time in Genesis. Until now the budding nation has wondered with their flocks while they became a multitude. Relatively speaking, it is a more peaceful time with a few squabbles to deal with. The future looms though. In the final chapters we shall see the outcome.
Proverbs 14:34 "Righteousness exalteth a nation: but sin is a reproach to any people."
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