Influence on anti-semitism:
Regardless of what Shakespeare's own intentions may have been, the play has been made use of by Anti-semites throughout history. One must note that the end of the title in the 1619 edition "With the Extreme Cruelty of Shylock the Jew…" must aptly describe how Shylock was viewed by the English public. The Nazis used the usurious Shylock for their propaganda. Shortly after Kristallnacht in 1938, "The Merchant of Venice" was broadcast for propagandistic ends over the German airwaves. Productions of the play followed in Lübeck (1938), Berlin (1940), and elsewhere within the Nazi Territory.
The depiction of Jews in English Literature throughout the centuries bears the close imprint of Shylock. With slight variations much of English literature up until the 20th century depicts the Jew as "a monied, cruel, lecherous, avaricious outsider tolerated only because of his golden hoard".
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Now, every educated Christian in Shakespeare's day knew that Justice and Mercy are both attributes of God, and every educated Christian had been taught to associate the Old Testament with Justice and the New with Mercy. The word of God to His people through Moses was: "Keep my laws and you will live. Break them and you will die." (See Deuteronomy 30:15-20) The problem was that no one kept the Law perfectly. (See Psalm 19:12) But the word of God in Christ is: "Be of good cheer--your sins are forgiven." (See M 9:2 = P 2:5 = L 5:20) The epistles of Paul are full of passages that contrast Law and Grace, and that associate Law with the Synagogue and Grace with the Church.
But Justice and Mercy are not simply contrasted--they are reconciled. In the poem Piers Plowman, written in the late 1300's, the issue of God's pardoning the sinner while still satisfying the demands of Justice is argued out (Passus B XVIII) by four characters known as the four Daughters of God: Mercy and Peace on the one side, and Truth and Righteousness on the other. They get their names from Psalm 85:10. "Mercy and truth will meet; peace and righteousness will kiss." The same four characters appear in The Castle of Perseverance, a play written in the early 1400's. In the play, Man has died, and his soul is on trial. Righteousness and Truth demand his damnation as the only just verdict. Mercy and Peace plead the Incarnation, and Man is accordingly saved.
Thus, an audience in Shakespeare's day would be familiar with the idea that Justice and Mercy are both good things, both attributes of God, and that the apparent conflict between them finds its resolution in the Incarnation, in the perfect obedience of the Son which satisfies the demands of Justice, in the blood of Christ which cleanses us from sin. They would be open to the idea that Shylock's insistence on Justice is a commitment to a good thing, and is to be honored as far as it goes, but that it is defective in that it fails to take one thing into account--the blood of Christ. And they would be familiar with the presentation of these ideas in the form of a trial, with prosecution and defense. And in the end, Justice is not simply put out of court. It is reconciled with Mercy. Shylock is to be baptized. The Law itself is to be made Christian. Thus, the final scene in the garden at Belmont is simply the triumphant conclusion of the trial scene. Here we see Jessica and Lorenzo, Jew and Christian, united in love and marriage, and talking about music, Shakespeare's customary symbol of harmony.
Some readers may object that they do not see any reconciliation in the Trial Scene. Shylock is not brought into harmony with the Christians. He is simply converted at sword-point. Back of this objection, in most cases, is the notion that any religion is acceptable to God if sincerely held. The Elizabethans did not, for the most part, think in those terms. They interpreted quite straightforwardly the words of Christ: "No one comes to the Father except through Me." (J 14:5) Some theologians of the period may argue for an implicit acceptance of the Gospel, but the popular view is that Shylock baptized has some sort of chance of salvation, while Shylock unbaptized has none at all. We may be uncomfortable at the idea of Shylock's distress at being forced to give up his unfamiliar way of life, but what an Elizabethan playgoer would see is that Shylock has endeavored to take away Antonio's earthly life, and that Antonio has responded by doing all in his power to bestow on Shylock life and joy unending.
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This results in an ironical justice. Portia after Shylock has chosen his course of action informs him of the consequences, she says ‘If thou dost shed one drop of Christian blood, thy lands and goods are by the laws of Venice confiscate unto the state of Venice’. Antonio receives his moral justice and Shylock is shown little mercy by the letter of the law that he demanded for himself. As Shylock refused to show mercy to Antonio when he had power over him, he is shown the same treatment and apparantly gets what he deserved as he is shown no mercy. Shylock tries to go back and get the money he earlier refused to take but Portia stops him by saying ‘The Jew shall have all justice, he shall have nothing but the penalty.’ It is shown to the reader that Shylock gets what is due as the play is written in favour of Christianity, and so all sympathy is lost for Shylock. This is because of the way he is taking his anger out on Antonio, because of his daughter stealing his money and running away. Also he doesn’t care that his daughter has run away only that she has stolen his money.
This demonstrates a prejudice towards him as a Jew and so none of his characters like him because of his religion and one of the consequences of the course of action he has chosen is that he is forced to become Christian.