The Merchant of Venice

- William Shakespeare

Summary
In olden times Venice was a city of Italy. Duke as Head of State.
Venice was a flourishing centre of foreign trade and Antonio was a
leading merchant of the state. He was a pious Christian who enjoyed
performing acts of kindness and charity for people who appealed to
him. He would lend people money without taking interest and all his
friends, such as Bassanio, Gratiano, Salario, Salarino and even
Lorenzo, were devoted to him: they hero – worshipped him. But the
one who loved him the most was his devoted friend Bassanio.
Perhaps Antonio loved Bassanio more than the latter loved him, for,
we notice that Bassanio was eager to go to Belmont, to try his luck to
win the heiress Portia, renowned as much for her richness as for her
God-given gifts of beauty and intelligence.

Antonio is so very considerate, so very polite and generous towards

those who require assistance but, strangely, he behaves most
irrationally towards Shylock, the Jew money lender. The mart or
money exchange of Venice is called the Rialto; it is there that the
merchants and the moneylenders congregate and it is there that
Antonio gets his opportunity to bait or taunt the unfortunate
Shylock. The Christians hate the Jews,’ and this hatred is based upon
the fact that the Jews betrayed and crucified Jesus Christ, himself a
Jew. The suffering of the Jews has been a historical fact and is
attributed to sin or crime committed against the Son of God, Christ,
according to Christianity. It was natural for the majority of Christians
to hate the majority of Jews. So this extreme dislike of Antonio for
Shylock is symbolic of the accepted feeling towards all Jews. Antonio
would never lose an opportunity to harm Shylock, to insult him, to
hinder his money-lending activities taking of interest.

In this play, reference is made to the idea of the Jews that taking of
interest was sanctioned by the part of the Bible which Christians
called the Old Testament. Antonio is angry that Shylock tries to
define Biblical justification for the taking of interest. He never takes
interest when he lends people any money. However, Shylock lives by
this means. He is depicted as a very avaricious man, a bigoted Jew,
and he is more in love with money than in anything else.

Shylock’ hates Antonio for all the insults that he has to bear at his
hands but he cannot retaliate for he is like a second-class citizen in
the Christian state of Venice.’ He yearns for revenge upon his
tormentor and he awaits the moment when he will get a chance.

Bassanio has been Antonio’s bosom companion for a number of

years and he comes of a noble family. But, upon the death of his
father, Bassanio inherited a small patrimony which he had soon
squandered and as a result of living beyond his slender means, he
has been compelled to borrow money from Antonio. He has often
borrowed money but has not been able to consider paying it back.
Then he hears of Portia’s present predicament, one in which scores
of would be suitors are pouring into Belmont to try their luck’ with
the caskets the correct choice from which is the pre-condition to
winning the lovely girl.

Bassanio had once met Portia, while a visit to Belmont during her
father’s lifetime and he remembered that she had loked lovingly at
him, exchanged meaningful glances and given him hope of some
advancement in her affections. However, his desire to go and try his
luck on this occasion depends upon financial soundness; he has not
the money for such a venture. Therefore, he requests Antonio to
lend him three thousand ducats. The latter has not much loose cash
with him as his ships have not returned from their destinations. So
Antonio advises Bassanio to raise a loan from a moneylender, on the
basis of his security.

It is ironical that Bassanio finds Shylock and asks him to lend the sum
of three thousand ducats for which loan Antonio would be the
guarantor. The prospect interests Shylock for he sees a glimmer of
hope that he might be able to take his long-awaited revenge upon
the merchant. Antonio joins this conversation and himself asks
Shylock to lend money; he is quite prepared to pay interest upon the
loan. Shylock: complains of the treatment he has had in his hands of
Antonio but finally agrees to give the loan without interest, though
he asks that a bond be signed by Antonio that, if he fails to repay the
loan within a period of three months, he will forfeit a pound of his
flesh to Shylock. He claims that this stipulation is all in fun and that
he is prepared to give the loan just to win the love and friendship of
Antonio. Bassanio is quite apprehensive about signing such a bond
but Antonio feels that there is no danger as his ships will return to
port much before the due date for repayment. The deal is concluded
and Shylock hands over the required sum of money of the two
friends.

Bassanio has planned to host a dinner before his departure for

Belmont; he invites Shylock to it and the latter, very reluctantly, sets
off for dinner. Earlier, he had sworn that he would not eat with
Christians. Lorenzo takes advantage of Shylock’s temporary absence
from home to come and take away his daughter Jessica; she is his
lover. She elopes with young Christian and Shylock returns home to
find his daughter missing. He is beside himself with rage for he
discovers that she has taken with her some jewels and money. The
loss of the money is more of a torment for him than the elopement
of his daughter. He arouses the Duke and the latter goes to the
quayside to search the ship in which Bassanio is set to sail for
Belmont. The ship has already set sail but Antonio assures the Duke
that Jessica and Lorenzo were not on it. Shylock institutes a search
for his missing daughter but, so mentally upset is he that he wanders
along the streets of Venice lamenting the running away of his
daughter and the loss of his money and jewels. The street urchins
follow him, imitating his lament. The Christian friends of Antonio are
secretly exulting in Shylock’s misfortune.

As the date for repayment of the loan draws nigh, it becomes a

rumour and a matter of concern for Antonio’s friends that Antonio’s
ships have been lost at sea and that he has suffered a great financial
loss. Shylock takes a step to ensure that upon the due date, Antonio
shall be arrested for his inability to repay the loan. He is now at a
fever-pitch of excitement, thinking that the day for revenge is not far
off. In the meantime, Shylock’s friend Tubal brings him various
reports of the sightings of Lorenzo and Jessica at various places, and
of the amounts of money that she had been squandering. These
reports are like dagger-thrusts for Shylock. However, he finds
consolation in the reports of Antonio’s losses and the certainty that
the merchant will be unable to repay his loan upon the due date.

Going back a bit in time, Portia’s house has been visited by great
numbers of hopeful suitors but all of them have failed to choose the
right casket. Therefore they have had to go away disappointed,
having sworn beforehand that they will never contemplate marriage
with any other woman and that they shall not inform others of their
wrong choice. As Portia has disliked all of them, she is only too happy
to see them fail in making the right choice.

Portia is delighted at the arrival of Bassanio and she seeks to prevent

him from making his choice from the caskets so that he can spend
more time with her: she dreads that he might choose wrongly and
that would mean his instant departure, according to the oath that all
the suitors have had to take before making their choice. But Bassanio
thinks differently; he wishes to make his choice immediately, though
much time has elapsed since his arrival at Belmont. He believes that
the longer he waits to make his choice, the harder it will be for him
to part from Portia, should he fail. Accordingly, he goes to make the
choice and Portia orders her musicians to play. There is poetry of
great intensity and beauty as Portia expresses her emotions at this
time. She is on oath not to inform anyone as to the correct casket
though, in this case, she greatly desires that she could break that
oath and instruct Bassanio to choose from the leaden one.

Bassanio argues that all that glitters is not gold and that external
appearances of a thing is often quite deceptive as regards its real
qualities or worth. So, as Portia is so lovely, so virtuous , he comes to
the conclusion that only the exterior of dull lead could contain the
picture of the precious gem that he seeks to win. Accordingly, he
unlocks the leaden casket and Portia finds that her joy knows no
bounds. She becomes extremely poetic expressing her immeasurable
joy and he, in turn, waxes eloquent upon the picture he discovers
inside the casket. He also finds a scroll which bids him to seal his
happiness with a kiss from his beloved. Their happiness is complete.
Gratiano and Nerissa have also become lovers and they now seek the
permission of their master and mistress to get married all are in the
seventh heaven and at that moent, Shakespeare introduces the
dramatic anti-climax: the bad news arrives. Salerio has brought
Bassanio a letter written by Antonio , who is now in jail. The letter is
a sad one and tells of his plight but, in it, Antonio has asked Bassanio
not to come to him if he does not genuinely feel the urge to be by his
friend’s side in this hour of trouble.

Portia notices the suffering on Bassanio’s countenance and asks him

to tell her the contents of the letter. By slow degrees, Bassanio
informs her of his having taken money from Antonio and of how he is
bound in gratitude to that dear friend.

Upon learning of the predicament in which Antonio has landed,

Portia advises that their marriage ceremony should take place at
once so that Bassanio can legally be the owner of her property, then
he should go to Venice to try to save his dear friend. She will furnish
him with many times the amount of money which Antonio owes the
Jew, so that he can buy the life of Antonio. She has planned her
strategy but that is a secret. Portia gives Bassanio a ring which is to
be a tken of his love and faithfulness towards her. Similarly, Nerissa
gives Gratiano a ring, also as a token for the same purpose. Both men
are supposed never to part with those rings. This act of giving rings
introduces the ring episode in this play.

The two men Bassanio and Gratiano leave for Venice. Portia
announces her attention of going for a few days’ prayer and
contemplation to a nearby monastery. Having requested to Lorenzo
and Jessica to look after her home, Portia instructs her servant,
Balthazare to go to Padua, to her relation Doctor Bellario, a famous
lawyer. She sends doctor some information regarding Antonio’s case
and expects to receive advice and some lawyers’ garments from him.
This Balthazar was to meet Portia at the ferry just before she
completed her journey to Venice.
Perhaps the most famous and most dramatic portion of this play
deals with the trial of Antonio in the court of the duke (Act IV). All
the characters, Shylock particularly, shows the various facets of their
natures, for good or for evil. The trial takes a dramatic turn when
Portia harps upon the very wording of the bond and thus deprives
Shylock of the sweet revenge which he had so eagerly anticipated
from the day that the bond had been signed by Antonio. Shylock
becomes the victim of his own devices and just manages to get away
with his life. However, Antonio is magnanimous with the defeated
adversary for he allows that Shylock’s daughter and son- in- law shall
be the beneficiaries of that part of the old man’s estate which has
been legally become his. He demands that Shylock become a
Christian. At the time, this demand is in the nature of a severe
punishment for the Jew but, later on, Shylock will himself realise that
he has been blessed with a real gift.

Portia refuses to take nay labours as the defence council for Antonio
but, on purpose, she demands the ring which Bassanio is wearing on
his finger. Likewise, Nerissa demands Gratiano’s ring. Both ladies
leave for Belmont so as to be at home when their husbands return.

Portia and Nerissa have already reached home when Bassanio,

Gratiano and Antonio arrive. Within minutes, Nerissa is heard
upbraiding Gratiano for being without the ring that she had given
him. He tries to justify his action in giving away his ring to the
lawyer’s clerk. Portia intervenes and remarks that her husband can
never do such a thing. Gratiano says that Bassanio has parted with
his ring. At tis, Portia turns angrily on Bassanio and he admits that he
has given the ring to the lawyer who had saved the life of his dear
friend. She will have none of it and charges him with having given it
to some other woman. Antonio feels guilty for having been the
unwitting cause of such dissension. He requests Portia to excuse
Bassanio this time and, if she gives him another ring, he is sure that
his friend will keep it safe; he is prepared to stand guarantee for that.
Thereupon, Portia produces a ring and tells Bassanio to keep this one
safe. As he takes the ring, Bassanio looks at it and realises concerning
the rings and Portia proudly informs them that she and Nerissa had
been the lawyer and the clerk in the court of the Duke.

The men folk extremely astonished to learn of their wives’ exploits

and were, quite naturally, very proud of them. Portia welcomed
Antonio and then added to the happiness of all, but particularly to
that of Antonio, by producing some documents which showed that
Antonio’s ships had not been remain a mystery for she says, ‘You
shall not know by what strange accident I chanced on this letter.’
Portia also had good news for Lorenzo and Jessica, Nerissa hands
over Shylock’s special deed of gift, his will, bequeathing his entire
estate to them upon his death.

It is almost morning by now and Portia promises to recount all that

has happened to them and to explain the various apparent
mysteries. The play ends on a humorous note with some light-
hearted remarks made by the irrepressible character, Gratiano.

- Summary of The Merchant of Venice,

Edited and prepared by,
J.E Crofton Home
(Formerly, lecturer in English St. Joseph’s College, Allahabad)