"The Merchant of Venice" (1596)

"The Merchant of Venice" by William Shakespeare

Shakespeare’s The Merchant of Venice is one of his most celebrated works. Its plot derives from a short story by Giovanni Fiorentino, Il Pecorone (1558; often referred to in English as The Golden Eagle), which tells of a Jewish moneylender demanding a pound of his debtor’s flesh as loan collateral.

Shakespeare's play was published following the sensational trial of Marrano Roderigo Lopez, accused of plotting to assassinate Queen Elizabeth, and the success of Christopher Marlowe's play 'The Jew of Malta'. 

Shakespeare addresses the theme of relations between the Catholic Church and Judaism, which was popular among his contemporaries. However, the system of relationships and moral dilemmas of the characters is far more complex. The conventional perception of Shakespeare's play as purely a comedy employing traditional devices proves insufficient.

This is a story about the power and price of words, for which every person must be held accountable. Shakespeare's picaresque plot unexpectedly takes on dramatic features. Young Bassanio hopes to marry the beautiful Portia. Unfortunately, the young man is poor, burdened with numerous debts, and in the battle for the heart of beauty he is opposed by two hereditary princes. Moreover, the girl's father has devised a cunning trap: only the one who solves the mystery of the three caskets will win his daughter's hand.

In this difficult situation, only Bassanio's loyal friend - the Venetian merchant Antonio - can help him. The man turns to the greedy moneylender Shylock, who can provide a loan of three thousand gold ducats needed for the young man's wedding. The selfish Shylock issues a bond but sets a condition: should the agreement be broken, he promises to cut out a pound of fresh from  Antonio's body as the deal's guarantor.

Bassanio is overjoyed when he succeeds in marrying Portia. But poor Antonio faces a shock: having lost a large sum after his ships are wrecked, he must confront the greedy Shylock in court. After officially recognizing the moneylender's right to claim the penalty, the miser refuses to hear any pleas for mercy toward his despised enemy Antonio.
The expected outcome is disrupted by the appearance of Portia in disguise. Posing as a lawyer, she manages to turn the case around. Shylock is accused of attempted murder and sentenced to forfeit half his wealth to the injured party.

Bassinio is happy because he succeeds in marrying Portia. And poor Antonio awaits a shock: having lost a large sum of money after the crash of his ships, he is forced to meet in the courtroom with the greedy Shaylock. After the official recognition of the loan shark’s right to receive a penalty, the cheapskate does not want to hear anything about the merciful treatment of Antonio who hates him. Dissonance brings to the obvious conclusion the appearance of a disguised Portion, who under the guise of an attorney manages to change the course of the case. Shaylock is accused of the attempt on a person’s life and awards half of his fortune to the affected party.

Shakespeare's innovation lies in his rejection of idealized character portrayals. His characters are polyphonic and complex, allowing the playwright to depict them in all their contradictions. Unwary Bassanio, courageous Portia, melancholic Antonio, and mercenary Shylock—each embodies traits characteristic of their social milieu. Shakespeare does not seek to condemn the Jewish moneylender's actions, for Shylock's lack of humanity does not stem from innate nature. He is a representative of an oppressed and despised people—usury, greed, mercantilism, and ruthlessness are his means of survival.

The position of Jews in medieval Christian society was largely shaped by the Fourth Lateran Council of 1215, which decreed that Jews were barred from public office, prohibited from owning land, and required to pay special taxes. In 1236, Emperor Frederick II formalized their status as servi camerae ("serfs of the treasury"): they were removed from the jurisdiction of local feudal lords and placed under imperial protection in exchange for heavy taxation.

Venice’s legal treatment of Jews was no exception. In 1516, Doge Leonardo Loredan issued a decree confining Jews to Cannaregio, a remote quarter of Venice. This became the first ghetto, where people were forcibly segregated from the rest of the population due to religious differences.

Nevertheless, Venice treated Jews more tolerantly than the rest of Europe. The Venetians recognized the practical benefits of cooperation with Jews, while the latter accepted their pariah status in exchange for religious freedom and the right to uphold their traditions. Moreover, within the ghetto’s boundaries, the Jewish community was left to self-govern—the city authorities abstained from interference, granting full autonomy to their internal institutions.

The legal dimension of the play is most vividly revealed in the courtroom scene. The contract granting Shylock the right to a pound of his debtor Antonio’s flesh is portrayed as valid and enforceable. It remains unclear which legal system William Shakespeare relied upon when creating the play.

If the dispute is examined through the lens of English law, Shylock’s claim might have been considered, to some extent, legally admissible, as English courts of the time adhered to strict literal interpretation and formalism. For several centuries, English legal practice allowed a debtor’s promise to be enforced by stipulating an excessive penalty, whereby the compensation would far exceed the original debt. A similar contract would also have been enforceable under the laws of Venice at the time, a point emphasized by the playwright through the conclusions voiced by the characters.

However, while the agreement is legally valid, this does not guarantee its unconditional enforcement, as most legal systems recognize the principle of “contra bonos mores” - the prohibition against exercising a right whose sole purpose is to inflict harm upon another person.

The dispute between Shylock and Antonio was to be adjudicated by a Doctor of Law, but when he failed to appear, Portia assumed his judicial role. All appeals to Shylock's mercy were unsuccessful. 

The court rules in favor of Shylock's claim against Antonio, but imposes a critical condition in its execution: not a single drop of Christian blood may be shed. It should be noted that this stipulation did not fully conform to established legal principles. When Shylock attempts to withdraw his claim and leave the courtroom, he is instead charged with a more serious offense: an alien's attempted murder of a citizen of the state - a capital crime punishable by death and confiscation of property, with assets divided between the victim and the state treasury. In the end, the court saves Shaylock’s life and does not use the right of full confiscation. Upon request, Antonio Sheik is obliged to accept Christianity and transfer half of his property.
The Merchant of Venice embodies the triumph of moral principles, which is why a woman succeeds in defeating the cunning moneylender. However, the fundamental circumstances of the central conflict are so complex and contradictory that their resolution cannot be achieved through a simple happy ending.