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Act I

Scene i: As its title denotes, the play opens in a street of Venice, where we first encounter three young men engaged in that city's lively mercantile scene, the major character Antonio and two of his friends, Salerio and Solano (who are used by Shakespeare in the benevolent secondary role(s) of siding against Shylock and reporting off-stage events. We soon learn that Antonio has invested his life's fortune in four or five foreign trade ventures, as he confidently expresses the belief that even if one or two of these ships were to be lost, his remaining vessels would keep his finances afloat. Three of Antonio's friends enter: Bassanio, his bosom companion; Gratiano, a friend of both the latter to whom Shakespeare assigns several comic speeches; and Lorenzo, who will soon elope with the moneylender Shylock's daughter, Jessica. When all the others exit, Bassanio speaks with Antonio about his plans to travel to Belmont where he intends to woo a "lady richly left," the play's heroine Portia, who is also beautiful and a paragon of "wondrous virtues."

Scene ii: The setting now shifts to Portia's estate at Belmont, where the lovely mistress speaks in an easy, jovial manner with her serving lady, Nerissa, about the marriage arrangement that her recently deceased father has set up. According to her father's will, Portia's suitors must undergo a test to prove their worthiness as marital partners. The test involves choosing among three caskets or chests---one of gold, one of silver, and one of lead---the choice of the "right" chest signifying that the would-be groom has understood the meaning of the inscriptions which have been attached to each chest by Portia's father, winning both the Lady and her inherited wealth. In our first glimpse of her, Portia displays a capacity for humor through her comic caricatures of past suitors who have sojourned to Belmont from Naples, Italy, France, Germany, England, and other distant realms. She is then told that yet another nobleman, the Prince of Morocco, has arrived at her gates.

Scene iii: Back in Venice, Bassanio discusses his need to obtain a loan from the evil Jewish money-lender, Shylock, with Antonio, who expresses his utter contempt for the greedy usurer. Shylock arrives, and in a lengthy stage aside he conveys his hatred for Antonio as a Christian who despises Jews, denounces usury, and upsets the money-lending trade by not charging interest. All of this, Shylock confides, motivates his desire to "catch" Antonio on the "hip" and have the chance to avenge Antonio's treatment of him as if he were a "dog." He says that he will loan Bassanio his three thousand ducats for three months with his customary interest. But Shylock has other, more nefarious terms in mind: if Bassanio fails to repay the loan at that time, then Antonio (acting as its "guarantor") must forfeit a "pound of (his) flesh" to Shylock. Antonio confidently agrees to this condition. (l.138).

Act II

Scene i: Returning to Belmont, Portia's next suitor, the Prince of Morocco appears and says to his intended bride, "Mislike me not for my complexion." Portia assures him that the dark-skinned Prince of Morocco is "as fair/As any comer I have look'd on yet." He will have his chance at choosing among the three chests.

Scene ii: Shifting again to Venice, Shylock's jester-servant, the clown Launcelot Gobbo meets with his father, the blind Old Gobbo, after many years. Once this stock reunion piece is out of the way, the young Launcelot says that he will soon quit Shylock's employ and work for the virtuous Bassanio. Bassanio enters followed by Gratiano, and some additional comic exchanges lighten the mix.

Scene iii: At Shylock's house in Venice, the moneylender's daughter, Jessica, says to the servant-clown Launcelot that she is sorry to see him go, for "Our house is hell, and thou, a merry devil" (II, iii, l.2). She gives him a letter for her secret lover, Lorenzo, a Christian and friend to Antonio, Bassanio and their circle, in which she vows to elope with him and take some of Shylock's ducats and jewels to boot.

Scene iv: In a brief Venice street scene, Launcelot the clown brings Jessica's letter to Lorenzo, who speaks with Gratiano, Salerio and Solano about his plans to take the lovely Jewish maiden from the clutches of her bestial father and transform her into a Christian wife.

Scene v: Shylock appears at his home and entrusts Jessica with the keys to his strongbox while he attends to the distasteful business of dealing with a prodigal Christian.

Scene vi: At the same location and shortly thereafter, with the aid of Gratiano, and Salerio, Lorenzo takes Jessica from Shylock's house. Antonio arrives with news that Bassanio is preparing to travel to Belmont on his quest for Portia's hand.

Scene vii: At Belmont, the Prince of Morocco faces the challenge of choosing among the chests and thereby winning Portia as his bride. Reading inscriptions on the three caskets, the Prince selects the golden one with the inscription, "Who chose'th me shall gain what many men desire." When he unlocks the golden chest, however, he see a carrion Death's head (a skull or image of same), with a brief verse message that begins "all that glitters is not gold." The Prince "loses" and departs.

Scene viii: In a Venice street, Salerio and Solano relish seeing Shylock discover that both his daughter and (even more important to the moneylender in their caricature of him) his ducats are gone. But the two are also concerned that Shylock will now be even more intent upon exacting his pound of flesh from Antonio should their Christian friend's venture run aground.

Scene ix: Back at Portia's estate in Belmont, the Prince of Arragon arrives to try his hand at the riddles of the chests. He picks the silver casket with an inscription which states that whoever picks the silver chest will "get what he deserves." The egotistical suitor unlocks the silver chest to find a picture of a blinking idiot and leaves in disgrace. Word then arrives that yet a third suitor, the fair Bassanio, has come to Portia's home, the messenger describing the young Venetian as an "ambassador of love."

Act III

Scene i: Now in the streets of Venice, Salerio and Solano discuss bad news from the market in the Rialto. One of Antonio's ships has been lost at sea. Shylock appears, raging against Christians in general and Antonio in particular as the cause of the "thefts" that have befallen him. A Jewish kinsman, Tubal, reports to Shylock that while he has been unable to locate Jessica, he has heard reports that she and Lorenzo are freely spending the money-lender's precious ducats. In a satirical exchange, Shylock tallies his losses and says that he would rather have his jewels than his Jessica back in his possession.

Scene ii: Returning to Belmont, because Portia has (conveniently) fallen in love the Bassanio and favors his proposal, she asks him to delay in making his choice among the three chests. But with Gratiano and Nerissa in attendance, Bassanio says that he must undertake the test even if it means leaving Portia forever. He rejects both the gold and silver chests as things of surface value and selects the leaden chest with its enigmatic motto that whoever chooses this chest "must risk all." When the dull-surfaced casket is unlocked, Bassanio finds a portrait of Portia along with a verse message that begins: "You choose that not by the view/Chance as fair, and choose as true." According to this "gentle scroll," because Bassanio has risked all, rather than grabbed for the seeming value of gold and silver, he is worthy of Portia. She agrees to marry him and gives her entire self and spirit over to his direction, as well as a token ring. In short order, Nerissa and Gratiano announce their plans to wed and a double ceremony is proposed. But then Salerio arrives from Venice accompanied by Lorenzo and Jessica, and bad news from home. All of Antonio's ships have been lost, he cannot repay Shylock, and the hateful usurer insists as a matter of binding law that he be re-paid in Antonio's flesh. Overhearing this, and valuing her future husband's friend, Portia says that she will give Shylock twice the money or even more than what is due to him if he will free Antonio from this bond.

Scene iii: Shylock gloats over Antonio's misfortune at the Venice jail in which the fallen Christian is being held. The moneylender chortles that the Duke and his court must uphold the terms of his contract with Antonio or risk the city's repute for legal fairness. Antonio acknowledges this and resigns himself to paying with his flesh on the next day.

Scene iv: At Belmont, Portia says that she will enter a religious retreat while Bassanio returns to Venice and his imperiled friend. But she then sends a letter to a cousin in Padua, who is an esteemed jurist. Her plan as told to Nerissa is that she will disguise herself as a lawyer and plead Antonio's case against Shylock's suit at the court of the Duke of Venice.

Scene v: In a brief scene and again on a "lightening," comic note, the clown Launcelot jests around with Lorenzo and Jessica.

Act IV

Scene i: Set at the court of the Duke of Venice, this trial scene is the climax of the play. The presiding Duke first extends his sympathy toward the defendant Antonio and then tries to persuade Shylock to drop his claim to a pound of flesh. Predictably, Shylock cites the letter of the law, and refuses to relent. Disguised as lawyer and a law clerk, Portia and Nerissa arrive in court as representatives of the legal scholar Bellario. In this lawyer role, Portia examines Shylock and Antonio. She too tries to persuade Shylock to drop the charge, offering him a huge sum, and reciting a famous speech that begins, "The quality of mercy is not strained." But Shylock rejects mercy as an attribute of God and says that he "craves" the law. Portia then unveils the "release" mechanism: Shylock can have his pound of flesh, but the contract in question says nothing about Antonio's blood. Therefore, Portia reasons, If Shylock sheds a single drop of Antonio's blood while exacting his revenge, he will be committing a capital crime. Shylock realizes hat he is beaten and tries to settle for double his loan. But the disguised Portia then points out that Shylock has committed another crime: he is a non-citizen of Venice who has threatened the life of the citizen Antonio and is therefore subject to the death penalty unless the Duke says otherwise. The "merciful" Duke of Venice spares Shylock's life. At Antonio's urging, the Duke allows Shylock to keep half of his remaining wealth if he converts to Christianity and gives the other half to Jessica and Lorenzo. Shylock says only that he is "content" with these terms. At the end of the scene, Portia, still in her lawyer's disguise, demands a fee from Bassanio in the form of the ring that she (as Portia) gave to him in Act III. He reluctantly parts with this cherished object when Antonio urges him to do so. A parallel ring device is advanced between Gratiano and the "law clerk" Nerissa.

Scene ii: At this point in the play, the action is essentially over. Remaining in Venice and still in her lawyer's garb, Portia receives the payment ring from Gratiano, and asks him to take Nerissa to Shylock's house

Act V

Scene i: Concluding in front of Portia's Belmont mansion, virtually all of the positive characters of Merchant (Portia and Bassanio, Gratiano and Nerrisa, Jessica and Lorenzo, the freed Antonio, et.al.) now lightly comment upon some of the themes raised in the play. Musical accompaniment arrives, and Portia (now dressed as herself) playfully teases Bassanio about the "missing" ring and then mildly rebukes Antonio for encouraging his friend to pay the "lawyer" with this cherished keepsake from his beloved wife. A lower-case ring plot plays out between Gratiano and Nerissa. Since the "problems" of the play have already been resolved in Act IV, Act V ends on a happy note that is superfluous but enlightening.

Merchants Of Venice