Bhashya
स्मरो वाव आकाशाद्भूयः, स्मरणं स्मरोऽन्तःकरण-धर्मः, स आकाशाद्भूयानिति द्रष्टव्यं लिङ्गव्यत्ययेन ।स्मर्तुः स्मरणे हि सति आकाशादि सर्वमर्थवत्, स्मरणवतो भोग्यत्वात् ।असति तु स्मरणे सदप्यसदेव, सत्त्वकार्याभावात् ।नापि सत्त्वं स्मृत्यभावे शक्यमाकाशादीनामवगन्तुमित्यतः स्मरणस्य आकाशाद्भूयस्त्वम् ।दृश्यते हि लोके स्मरणस्य भूयस्त्वं यस्मात्, तस्माद्यद्यपि समुदिता बहव एकस्मिन्नासीरन् उपविशेयुः, ते तत्र आसीनाः अन्योन्यभाषितमपि न स्मरन्तश्चेत्स्युः, नैव ते कंचन शब्दं शृणुयुः ; तथा न मन्वीरन्, मन्तव्यं चेत्स्मरेयुः तदा मन्वीरन्, स्मृत्यभावान्न मन्वीरन् ; तथा न विजानीरन् ।यदा वाव ते स्मरेयुर्मन्तव्यं विज्ञातव्यं श्रोतव्यं च, अथ शृणुयुः अथ मन्वीरन् अथ विजानीरन् ।तथा स्मरेण वै- मम पुत्रा एते- इति पुत्रान्विजानाति, स्मरेण पशून् ।अतो भूयस्त्वात्स्मरमुपास्स्वेति ।उक्तार्थमन्यत् ॥
In plain words
Memory is greater than space. Remembrance is a function of the inner mind, and its superiority over space is to be understood here. When a person remembers, everything from space onward becomes meaningful because the one who remembers experiences it. Without memory, even existing things become as nothing, for they serve no purpose. Without memory, the existence of things cannot even be grasped; therefore memory surpasses space. We see this in ordinary life: if many people sit together in a room and fail to retain what each other says, they hear no sound at all. They cannot think; only when they remember the subject of thought do they think, and without memory they cannot. Nor can they understand. But when they remember what is to be thought, known, and heard, then they hear, think, and understand. Through memory one recognizes sons and cattle. Therefore, recognizing this greatness, meditate upon memory. The rest is already explained.
Close to the Sanskrit
Memory is indeed greater than space. Remembrance is a function of the internal organ; that it is greater than space is to be understood through a shift of gender. For when there is remembrance by one who remembers, all things beginning with space become meaningful, because the possessor of memory enjoys them. But when there is remembrance not, even existing things are as if non-existent, due to the absence of the effect of existence. Nor is the existence of things like space able to be known without memory; hence memory is greater than space. For in the world the greatness of memory is seen: from this, even if many gathered persons were to sit in one place, if they sitting there did not remember each other's spoken words, they would not hear any sound at all; likewise they would not think, but if they remembered what is to be thought then they would think, without memory they would not think; likewise they would not know. When indeed they should remember what is to be thought, to be known, and to be heard, then they would hear, then they would think, then they would know. Likewise through memory indeed one recognizes sons thus: 'these are my sons', through memory cattle. Therefore, because of its greatness, worship memory. The rest has its meaning already stated.