The Merchant of Venice is a 16th-century play written by William Shakespeare in which a merchant in Venice named Antonio defaults on a large loan provided by a Jewish moneylender, Shylock. It is believed to have been written between 1596 and 1599.
Although classified as a comedy in the First Folio and sharing certain aspects with Shakespeare's other romantic comedies, the play is most remembered for its dramatic scenes, and it is best known for Shylock and his famous "Hath not a Jew eyes?" speech on humanity. Also notable is Portia's speech about "the quality of mercy" (Source: Wikipedia)
Characters
Portia
Quick-witted, wealthy, and beautiful, Portia embodies the virtues that are typical of Shakespeare’s heroines—it is no surprise that she emerges as the antidote to Shylock’s malice. At the beginning of the play, however, we do not see Portia’s potential for initiative and resourcefulness, as she is a near prisoner, feeling herself absolutely bound to follow her father’s dying wishes. This opening appearance, however, proves to be a revealing introduction to Portia, who emerges as that rarest of combinations—a free spirit who abides rigidly by rules.
Shylock
Although critics tend to agree that Shylock is The Merchant of Venice’s most noteworthy figure, no consensus has been reached on whether to read him as a bloodthirsty bogeyman, a clownish Jewish stereotype, or a tragic figure whose sense of decency has been fractured by the persecution he endures. Certainly, Shylock is the play’s antagonist, and he is menacing enough to seriously imperil the happiness of Venice’s businessmen and young lovers alike. Shylock is also, however, a creation of circumstance; even in his single-minded pursuit of a pound of flesh, his frequent mentions of the cruelty he has endured at Christian hands make it hard for us to label him a natural born monster. In one of Shakespeare’s most famous monologues, for example, Shylock argues that Jews are humans and calls his quest for vengeance the product of lessons taught to him by the cruelty of Venetian citizens. On the other hand, Shylock’s coldly calculated attempt to revenge the wrongs done to him by murdering his persecutor, Antonio, prevents us from viewing him in a primarily positive light. Shakespeare gives us unmistakably human moments, but he often steers us against Shylock as well, painting him as a miserly, cruel, and prosaic figure.
Antonio
Although the play’s title refers to him, Antonio is a rather lackluster character. He emerges in Act I, scene i as a hopeless depressive, someone who cannot name the source of his melancholy and who, throughout the course of the play, devolves into a self-pitying lump, unable to muster the energy required to defend himself against execution. Antonio never names the cause of his melancholy, but the evidence seems to point to his being in love, despite his denial of this idea in Act I, scene i. The most likely object of his affection is Bassanio, who takes full advantage of the merchant’s boundless feelings for him. Antonio has risked the entirety of his fortune on overseas trading ventures, yet he agrees to guarantee the potentially lethal loan Bassanio secures from Shylock. In the context of his unrequited and presumably unconsummated relationship with Bassanio, Antonio’s willingness to offer up a pound of his own flesh seems particularly important, signifying a union that grotesquely alludes to the rites of marriage, where two partners become “one flesh.”
Plot Summary
The Merchant of Venice is essentially a play about property: in telling the story of a merchant who treats his own flesh as property to secure a loan, and the moneylender who calls in the debt, the play asks questions about the value of life itself. Throughout the play, tangible objects such as rings and caskets stand in for intangible ideas about love and fidelity. A test where three suitors must choose between silver, lead, and gold caskets functions to remind audiences that “all that glisters isn’t gold,” and the true value of life has no financial equivalent. However, money plays a significant role for most of the characters, for whom financial security equals independence. Language about penalties, bonds, and forfeitures add to the sense of life reduced to commercial transactions. The fact that the most avaricious, greedy character in the play ends up having lost both his physical wealth as well as his daughter and his religion warn against the dangers of excessive greed. While the play culminates in a trial scene, Portia’s soliloquy suggests that mercy, or forgiveness, is ultimately more important than legal justice.
Themes
Self-Interest Versus Love
On the surface, the main difference between the Christian characters and Shylock appears to be that the Christian characters value human relationships over business ones, whereas Shylock is only interested in money. The Christian characters certainly view the matter this way. Merchants like Antonio lend money free of interest and put themselves at risk for those they love, whereas Shylock agonizes over the loss of his money and is reported to run through the streets crying, “O, my ducats! O, my daughter!” (II.viii.15). With these words, he apparently values his money at least as much as his daughter, suggesting that his greed outweighs his love. However, upon closer inspection, this supposed difference between Christian and Jew breaks down. When we see Shylock in Act III, scene i, he seems more hurt by the fact that his daughter sold a ring that was given to him by his dead wife before they were married than he is by the loss of the ring’s monetary value. Some human relationships do indeed matter to Shylock more than money. Moreover, his insistence that he have a pound of flesh rather than any amount of money shows that his resentment is much stronger than his greed.
The Divine Quality of Mercy
The conflict between Shylock and the Christian characters comes to a head over the issue of mercy. The other characters acknowledge that the law is on Shylock’s side, but they all expect him to show mercy, which he refuses to do. When, during the trial, Shylock asks Portia what could possibly compel him to be merciful, Portia’s long reply, beginning with the words, “The quality of mercy is not strained,” clarifies what is at stake in the argument (IVSource.i.179). Human beings should be merciful because God is merciful: mercy is an attribute of God himself and therefore greater than power, majesty, or law.
Hatred as a Cyclical Phenomenon
Throughout the play, Shylock claims that he is simply applying the lessons taught to him by his Christian neighbors; this claim becomes an integral part of both his character and his argument in court. In Shylock’s very first appearance, as he conspires to harm Antonio, his entire plan seems to be born of the insults and injuries Antonio has inflicted upon him in the past. As the play continues, and Shylock unveils more of his reasoning, the same idea rears its head over and over—he is simply applying what years of abuse have taught him. Responding to Salarino’s query of what good the pound of flesh will do him, Shylock responds, “The villainy you teach me I will execute, and it shall go hard but I will better the instruction” (III.i.60–61). Not all of Shylock’s actions can be blamed on poor teachings, and one could argue that Antonio understands his own culpability in his near execution. With the trial’s conclusion, Antonio demands that Shylock convert to Christianity, but inflicts no other punishment, despite the threats of fellow Christians like Gratiano. Antonio does not, as he has in the past, kick or spit on Shylock. Antonio, as well as the duke, effectively ends the conflict by starving it of the injustices it needs to continue (Source: Sparknotes)