The Merchant of Venice by William Shakespeare -- Act 1, Scene 3 -- Summary and Analysis

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Summary

The scene opens as Shylock and Bassanio negotiate the terms of the loan. Bassanio requests a three-month loan for three thousand ducats for which Antonio is to be the guarantor. Bassanio invites Shylock to dine with them but he refuses for fear of infringing rules of kosher.

Antonio enters. Shylock says, aside, that he hates Antonio because he is Christian, and because he lends money with no interest which takes business away from Venetian moneylenders. In addition, Antonio is anti-Semitic and talks shit about Jews, and doesn't think usury is a legitimate occupation.

Shylock will lend money from a Jewish friend to complete the loan. Antonio says he usually does not borrow or lend with interest but is willing to make an exception for a friend, out of necessity. There is a lot of tension between Antonio and Shylock. Shylock tells Antonio off for being rude to him and says that he doesn't deserve to be lent money. Antonio replies that lending him money would not be a friendly act because there is interest involved.

Shylock says he will take Antonio as the debt guarantor. If the terms of the loan are violated, Shylock will be entitled to a pound of Antonio's flesh. Bassanio is reluctant to accept such a risk for his friend. Shylock claims that the terms are friendly, for he would gain nothing (a pound of flesh has no monetary value). Antonio accepts the terms- 3000 ducats to be returned in three months or a pound of Antonio's flesh.

Participating Characters

  • Bassanio
  • Shylock
  • Antonio

Themes

  • Racism
  • Religion
  • Resistance to conversion to Xtianity
  • Appearance vs reality

ANTONIO Mark you this, Bassanio,

The devil can cite Scripture for his purpose. 90

An evil soul producing holy witness

Is like a villain with a smiling cheek,

A goodly apple rotten at the heart.

O what a goodly outside falsehood hath!

  • Lying and politics and revenge

SHYLOCK

O father Abram, what these Christians are,
Whose own hard dealings teaches them suspect
The thoughts of others! Pray you, tell me this;
If he should break his day, what should I gain
By the exaction of the forfeiture?
A pound of man's flesh taken from a man
Is not so estimable, profitable neither,
As flesh of muttons, beefs, or goats. I say,
To buy his favour, I extend this friendship:
If he will take it, so; if not, adieu;
And, for my love, I pray you wrong me not.


Analysis and Discussion

  • Antonio put the idea of "pound of flesh" in Shylock's head! A speech ago, shylock was mean and now he's nice as though to fool Antonio into accepting the offer.

ANTONIO

I am as like to call thee so again,
To spit on thee again, to spurn thee too.
If thou wilt lend this money, lend it not
As to thy friends; for when did friendship take
A breed for barren metal of his friend?
But lend it rather to thine enemy,
Who, if he break, thou mayst with better face
Exact the penalty.

SHYLOCK

Why, look you, how you storm!
I would be friends with you and have your love,
Forget the shames that you have stain'd me with,
Supply your present wants and take no doit
Of usance for my moneys, and you'll not hear me:
This is kind I offer.


  • Antonio provoked Shylock into cutting such a dirty deal. But shylock cut it under the pretence of friendship. But Antonio is an idiot.
  • Maybe Antonio will be punished for his hubris (thinking he is in charge of his own fate by feeling certain that his ships will be safe and exactly when they will return). Or maybe the plot counters predestination: In a greek tragedy he would be punished for his hubris but here he is absolved (he gets to live and his ships return)

Perhaps also the triumph of Xtianity over Judaism- in Judaism you are not allowed to express confidence in your future because it's rude to god

ANTONIO

Why, fear not, man; I will not forfeit it:
Within these two months, that's a month before
This bond expires, I do expect return
Of thrice three times the value of this bond.

…

ANTONIO

Come on: in this there can be no dismay;
My ships come home a month before the day.



Table of Contents: The Merchant of Venice -- Summary and Analysis


The Merchant of Venice. Image source

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