The Merchant of Venice is a 16th-century story by William Shakespeare, best remembered for its humour and dramatic scenes; and also feature a famous speech on humanity- The Quality of Mercy.
Once, there were two merchants in Venice. They both were good friends of each other. One of them, ‘The Merchant of Venice’ of this story, was Antonio who was really wealthy, respected and a famous merchant. The second was Bassanio, a noble but penniless Venetian, youngest among many friends of Antonio and who would always borrow money from Antonio. Antonio always lent him the loan favourably. He would never charge interest on money he lent, since his main source of income was from his merchant ships. Bassanio wanted to repay his friend, but his debt kept on rising, and he was never able to repay. Careless with his money, he had squandered away all his wealth. He thought, “I am deeply indebted to Antonio. I’ll surely find a way to repay all the money.” He had been thinking of some alternate plans to get money quickly and repay Antonio.
Bassanio decided to win the hand of a rich heiress Portia in Belmont. Portia was the most intelligent and sharp lady, famous for her beauty and for her wealth. Bassanio needed a sum of three thousand ducats that would guarantee him as a suitor. He was sure to win her hand in marriage and would become rich. But already bankrupt, he could not go courting with his hands hanging. He thought, “If I am to make a better impression and woo Portia with style, I have to appear at least as well off as her other wealthy suitors.” The only way he could think of was to seek help from Antonio again.
Antonio told Bassanio, “My dear young friend, I may have delightedly lent you whatever money you need, but, sadly, at present, I am myself honestly short of cash. All my money has been invested in my merchant ships, which are still at sea. Money would come, when the ships return.” However, Antonio did not want to disappoint Bassanio. He suggested, “I know an opulent Jewish financier named Shylock who will possible lend you the necessary money. Also, you may use my good name as a security for your loan. I will agree to whatever conditions he lays. I guarantee to repay the loan for you, as my ships would return soon.”
However, Antonio was not in good terms with Shylock since Antonio who was a Christian had displayed behaviours which were against the Jewish. Shylock felt strong aversion for Antonio. He agreed right away to lend Bassanio three thousand ducats for three months, on Antonio’s bond. Foregoing his usual high interest rate, Shylock demanded instead that, “If the day for repayment falls due and Antonio fails to return my money, I will cut off exactly a pound of flesh from his body.” Antonio was shocked by the agreement and surprised that Shylock didn’t ask interest. He became aware of his cruel intentions. He still signed the contract as he was sure that all of his ships would be back in Venice a full month before the bond would fall due. Shylock was happy and thought, “Nothing will satisfy me except the legal fulfilment of my bond. I have enforced a dreadful, deadly revenge on Antonio.”
Bassanio got his money to woo Portia. He departed for Belmont. Portia had already been secretly in love with Bassanio. She helped Bassanio to successfully fulfil the terms of her marriage stated in her dead father’s will, by assisting him select from three caskets the one that contained her portrait. Two previous wooers, the Prince of Morocco and the Prince of Aragon, had already failed the casket test. Both, he and Portia were overjoyed, and they made plans to get married at once.
Happiness reigned in Belmont until Bassanio received a letter from Antonio bidding him farewell. Antonio had written to him, “Friend, my ships have lost at sea. It is impossible that I would be alive after the cunning Shylock collects his pound of flesh.” Horrified, Bassanio left instantly for Venice with money which Portia gave him to repay the bond.
Shylock had been jumping with joy. He was no longer interested merely in collecting back his money. All he wanted was revenge. He said, “Revenge is a dish best served cold.”
In the Venetian court of justice, presided over by the Duke of Venice, Shylock faced his enemy, Antonio. Antonio was surrounded by his friends and was silently resigned to death. On all sides, Shylock was surrounded by no friends but only enemies. Bassanio pleaded with Shylock to accept double the money due him, but Shylock refused.
At that point, Portia, disguised and cross-dressed as a young male lawyer named Balthazar, entered the court. Bassanio didn’t recognise her. Balthazar (actually Portia) stated the Duke, “I have been sent from Padua by a learned attorney, Doctor Bellario, to plead the defendant’s case.”
The hearing then proceeded. Balthazar entreated Shylock to be merciful. Speaking with heightened eloquence, he said to Shylock, “Everyone prays and pleads to God for mercy, to be merciful and kind towards us. Likewise, Shylock, you should be merciful and kind to Antonio. You will get a reward from heaven. If you seek justice without showing mercy, you face wrath from God, because by doing this you would disobey the law of God. Mercy is a quality most valuable to the most respected, powerful, strongest and highest people in the society.”
Everyone in the court admired Balthazar for his profound wisdom and persuasive power. No one would recognise the smart and handsome Balthazar was actually Portia, the wife of Bassanio.
However, Shylock was full of vengeance. Balthazar offered him triple the amount owed him, but again Shylock refused it. Balthazar then solemnly informed the court that Shylock was entirely within his lawful rights. He then informed Shylock, “You ought to be very careful. You must cut-off exactly one pound of flesh, neither less nor more, and must not spill even a single drop of Antonio’s blood. If you fail, all of your lands and goods will be confiscated and you will be sentenced for attempting a murder.”
Shylock knew that it was not possible to extract exactly a pound off Antonio. “Oh, in that case, I accept the triple payment of the bond,” replied Shylock hastily. Balthazar said, “You have already refused the offer and you may go ahead with the flesh thing.”
“Give me only the original three thousand ducats,” said Shylock in astonishment.
Balthazar replied, “I am afraid it’s impossible now. It was you yourself who demanded the strict interpretation of the law.” He added, “Furthermore, the law has another hold on you. Since you are an outsider in Venice and since you attempted to “seek the life” of Antonio, a Venetian citizen, all your wealth, per law, would be divided between Antonio, whom you attempted to destroy, and the public treasury. Additionally, your own life is at risk because of what you attempted to do.” Shylock got frightened.
As a final verdict, the Duke decided to spare Shylock’s life, but he ordered to give half of Shylock’s money to Antonio, and the rest of it to the state.
Antonio proposed, “I will not accept the money if Shylock becomes merciful, stops hating the Christians, does not charge any interest for loans and practises ethics and morals.”
Shylock, broken and defeated, agreed to all the conditions and left the court. Overjoyed, Antonio, Bassanio and their friends offered to pay Balthazar, the young lawyer, whatever they could. But oddly enough, Balthazar said, “I want no money or anything else. All I want is that specific ring Bassanio is wearing.” Bassanio was embarrassed, “Oh, ask anything else, for this is given to me by my beloved wife, and she asked me to wear it always.” But the lawyer wouldn’t listen. He insisted and, finally, Bassanio reluctantly gave away Portia’s ring. Balthazar then hastened back to Belmont to tease Bassanio about the ring.
When Bassanio, along with Antonio, returned to Belmont, Portia inquired about the missing ring. She teased, “I doubt you gave away the ring to some other woman, or maybe, to some handsome man.” Bassanio swore that it was not true. It was not until Portia had put her husband through some long, agonizing moments of discomfort, “The handsome lawyer you gave the ring was none other than your beloved wife.”
Thus, all ended happily, as Portia handed Antonio a letter informing him that three of his ships had arrived safely in port.
Everyone prays and pleads to God for mercy, to be merciful and kind towards us. Mercy is a quality most valuable to the most respected, powerful, strongest and highest people in the society.