There is a Fountain by Calvin Gilmore

There is a fountain filled with blood,

A continuous source of grace and Life
Drawn from Immanuel's veins,

The blood of Jesus offered for you
And sinners plunged beneath that flood

The Early Church used three forms of Baptism: sprinkling, pouring and immersion
Lose all their guilty stains:

We are cleansed by the blood of Jesus
Lose all their guilty stains,
Lose all their guilty stains;
And sinners plunged beneath that flood
Lose all their guilty stains.

The dying thief rejoiced to see

One of those who died with Jesus cried out for salvation. Jesus saved a thief even while on the cross
That fountain in His day;

This flood is available from Adam and Eve to the last person receiving Jesus before He returns.
And there have I, though vile as he,

You will appreciate grace only to the degree you understand your need for it!
Washed all my sins away:

Baptism is “an outward and visible sign of an inward and spiritual grace.” (John Wesley)
Washed all my sins away,
Washed all my sins away;
And there have I, though vile as he,
Washed all my sins away.

Dear dying Lamb, Thy precious blood

The precious Lamb of God who died so His enemies could Live forever
Shall never lose its pow'r,

The eternal Life of Jesus now flows in all who receive Him
Till all the ransomed church of God

Our ransom and debt has been paid and we now Serve God willingly
Are safe, to sin no more:

We are safe, secure and without guilt to live a Life glorify God
Are safe, to sin no more,
Are safe, to sin no more;
Till all the ransomed church of God
Are safe, to sin no more.

E'er since by faith I saw the stream

Others can hear about the blood of Jesus but by faith it is revealed to all who receive it! (A denomination recently almost voted to remove this hymn from their hymnal because they thought it was 'distasteful'.)
Thy flowing wounds supply,

How many were the precious wounds on Jesus? How many lashes from the scourge? (Often called a cat of nine tails with the handle and eight lashes with weights on the end to ensure the most destruction.)
Redeeming love has been my theme,

If you have received Jesus how can you not tell others?
And shall be till I die:

May we like Jesus help one find life even in our death!!!
And shall be till I die,
And shall be till I die;
Redeeming love has been my theme,
And shall be till I die.

When this poor, lisping, stamm'ring tongue

How can such as we share the glorious wonder of God's grace? DO IT!
Lies silent in the grave,

Unheard by this darkened world.
Then in a nobler, sweeter song,

Before the face of God I will sing as never before
I'll sing Thy pow'r to save:

We will sing joyfully of God's power which brought us there
I'll sing Thy pow'r to save,
I'll sing Thy pow'r to save;
Then in a nobler, sweeter song,
I'll sing Thy pow'r to save.

FOUNTAIN foun’-tin, foun’-tan: In a country where no rain falls for half of the year, springs sume an importance unknown in more favored lands. In both eastern and western Palestine and even in Lebanon there are many villages which depend entirely upon reservoirs or cisterns of rain water. Others are situated along the courses of the few perennial streams. But wherever a spring exists it is very apt to be the nucleus of a village. It may furnish sufficient water to be used in irrigation, in which case the gardens surrounding the village become an oasis in the midst of the parched land. Or there may be a tiny stream which barely suffices for drinking water, about which the village women and girls sit and talk waiting their turns to fill their jars, sometimes until far in the night. The water of the village fountain is often conveyed by a covered conduit for some distance from the source to a convenient spot in the village where an arch is built up, under which the water gushes out. See CISTERN; SPRING; WELL; EN-, and place-names compounded with EN-.

Figurative:

(1) of God (#Ps 36:9 Jer 2:13 17:13);

(2) of Divine pardon and purification, with an obvious Messianic reference (#Zec 13:1);

(3) of wisdom and godliness (#Pr 13:14 14:27);

(4) of wives (#Pr 5:18);

(5) of children (#De 33:28; compare #Ps 68:26 Pr 5:16);

(6) of prosperity (#Ps 107:35 114:8 Ho 13:15);

(7) of the heart (#Ec 12:6; see CISTERN);

(8) of life everlasting (#Re 7:17 21:6).

Alfred Ely Day in ISBE International Standard Bible Encyclopedia