Preached to the monks at Mātulā. It is a sermon on the necessity of living in accordance with the Dhamma, with the Dhamma as one s refuge.
The Sutta contains the story of the Cakkavatti Dalhanemi and his eldest son, and the manner in which a Cakka-vatti administers the law, ruling by righteousness, over a people made virtuous by his instruction. But, later, there is a gradual corruption of morals, followed by the decay and destruction of human life with all its attendant comforts. This is followed by a gradual restoration of virtuousness, accompanied by the return of prosperity and longevity.
The Sutta also records the prophecy of the coming of the Buddha Metteyya.
It is said (DA.iii.858) that at the end of this discourse twenty thousand monks became arahants and eighty-four thousand others realised the Truth.