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With the princes - נדיבים nedebim, very properly translated by the Anglo-Saxon, the aldermen, the most respectable of his people.
That he may set him with princes - May give him a rank - a position - with nobles and great people upon the earth. Many instances of this nature have occurred in the history of the world. Not a few of the nobles of England, including several of its lord chancellors, have been raised thus from very humble life; and in every nation God shows that he has power to give to those of humblest rank a name and place which no hereditary titles and honors can bestow: thus Shakespeare was the son of a glover and woolstapler. God has power to come into the humblest cottage of poverty, and to bring forth those who shall stand foremost in their generation as people of genius and power. Nothing is more absolute than the power which God thus holds over the nations of the earth, and it is meet that a Being who has this power, and who exercises it, should be praised and honored.
Even with the princes of his people - Among those who are selected to preside over the people whom he has chosen for himself. It is implied here that this would be a higher honor than to be exalted to power among a pagan people - a people ignorant of the true God. It is a higher honor to be counted worthy to rule a Christian nation than a pagan people; it is a higher honor to be a ruler in the church - over those whom God has redeemed for himself - than it is to administer a secular government.