Jacob is speaking in the past tense, and explaining that past experience of the Old World Jews have led them to not understand the words of the prophets. Jacob notes that the Old World Jews were "looking beyond the mark." As a general context, he is saying that they were looking for something different than that which they received. In the context of his current train of thought, that has to be the mission of the Messiah. Therefore he is saying that the Jews are expecting a different mission for the Messiah. Where the Messiah will come, and will provide the atonement, the Jews will be looking for a triumphal Messiah. Jacob suggests that by not understanding the dual nature of the mission of the Messiah, that they will expect the wrong thing at the wrong time, and thus be unable to understand the prophecies they have received.