This is a symbol of baptism, which now saves you-- not the putting away of the filth of the flesh, but the answer of a good conscience toward God, through the resurrection of Jesus Christ,
But the fanatics, such as Schuencfeldius, absurdly pervert this testimony, while they seek to take away from sacraments all their power and effect. For Peter did not mean here to teach that Christ’s institution is vain and inefficacious, but only to exclude hypocrites from the hope of salvation, who, as far as they can, deprave and corrupt baptism. Moreover, when we speak of sacraments, two things are to be considered, the sign and the thing itself. In baptism the sign is water, but the thing is the washing of the soul by the blood of Christ and the mortifying of the flesh. The institution of Christ includes these two things. Now that the sign appears often inefficacious and fruitless, this happens through the abuse of men, which does not take away the nature of the sacrament. Let us then learn not to tear away the thing signified from the sign. We must at the same time beware of another evil, such as prevails among the Papists; for as they distinguish not as they ought between the thing and the sign, they stop at the outward element, and on that fix their hope of salvation. Therefore the sight of the water takes away their thoughts from the blood of Christ and the power of the Spirit. They do not regard Christ as the only author of all the blessings therein offered to us; they transfer the glory of his death to the water, they tie the secret power of the Spirit to the visible sign. 