I Heard the Bells on Christmas Day

This is by far one of my favorite Christmas songs... comes in close with "O' Holy Night."

I Heard the Bells on Christmas Day
Their old familiar carols play,
And wild and sweet the words repeat
Of peace on earth, good will to men.

I thought how, as the day had come,
The belfries of all Christendom
Had rolled along the unbroken song
Of peace on earth, good will to men.

And in despair I bowed my head:
"There is no peace on earth," I said,
"For hate is strong and mocks the song
Of peace on earth, good will to men."

Then pealed the bells more loud and deep:
"God is not dead, nor doth he sleep;
The wrong shall fail, the right prevail,
With peace on earth, good will to men."

Till, ringing singing, on its way,
The world revolved from night to day,
A voice, a chime, a chant sublime,
Of peace on earth, good will to men!

I relate to this song. I suppose that's why I like it so much. I'm pretty sure I've made statements like, "Peace on earth won't happen until Jesus comes." And maybe it won't. But perhaps that's what the phrase is referring to... Christ's return?

I wanted to post a video of the version by David Phelps, however I cannot find one online. His CD "Joy Joy" is the only Christmas CD I own.