fact that Antonio allows those who have borrowed from Shylock to come to him in their desperation when their loan and interest are due and, in his liberality, he lends them money at the last minute. On the other hand, Shylock is completely materialistic. Not only does he demand the payment on his loans, plus his usury charge, but he is most concerned with his own personal material possessions. When, for instance, he is told that his daughterJessica has run off with a Christian to be married, he seems more concerned about his money:

My daughter! O my ducats! O my daughter!
Fled with a Christian! O my Christian ducats! (2.8.15-16). 

Another reason that Antonio and Shylock are at ends with one another is that they play opposing roles. Shylock is the villain, the obstacle to love, while Antonio aids his friend Bassanio in romance; his love for Bassanio follows the Renaissance concept of friendship, a concept which overrides even romantic love. For, Antonio is willing to lose his life by giving up a pound of flesh so that his friend can marry Portia. But, Shylock is greedy and vindictive; he demands his pound of flesh because he hates Antonio.

More than a lodged hat and a certain loathing
I bear Antonio, that I follow thus
A losing suit against him. (4.1.60-63)

So strong is this hatred against Antonio that Shylock refuses payment, even three times the amount.

The Merchant of Venice traces the difficulties Antonio, the merchant, has after a "bond" becomes due to Shylock. Antonio loans the money on behalf of Bassanio who has "disabled mine estate" (I.i.123) and squandered his own wealth. As Antonio's best friend, Antonio will do anything to help his friend who wants to win over Portia in the hope of marrying her. 

There is an age old feud between Antonio and Shylock; Antonio feeling contempt for "the Jew" and Shylock hating Antonio "for he is a Christian."(I.iii.37) Antonio is confident that his ships will return "a month before the day"(176) and he will settle his bond and Shylock, rather than settle for money, suggests a bond of "a pound of man's flesh"( 160) should Antonio be unable to deliver the funds in time. Bassanio is concerned about "a villain's mind"(173) but the deal goes ahead.

When the debt is due and Antonio cannot pay, Shylock demands his bond, his "pound of flesh.' Portia, disguised as a lawyer, pleads for Shylock to show mercy to Antonio and take money instead of the "pound of flesh." Shylock, who has been maligned and poorly-treated by Antonio and Christians in general, refuses to reconsider because "the villainy you teach me, I will execute" (III.i.60) and he intends to get his revenge. 

Ultimately, Portia, as the lawyer, manages to manipulate the situation to ensure that Shylock cannot take his bond if he spills any of Antonio's blood, as that was not agreed to (a loophole in other words.) Shylock is then made to convert to Christianity as he has apparently subverted justice by "seek(ing) the life of any citizen" (IV.i.356) and must be punished in return. His wealth is to be divided and he is left with nothing, not even his dignity!

Shylock despises Antonio with a passion. He says as much throughout the play. When he observes him at the beginning, he says the following in an aside:

How like a fawning publican he looks!
I hate him for he is a Christian,
But more for that in low simplicity
He lends out money gratis and brings down
The rate of usance here with us in Venice.
If I can catch him once upon the hip,
I will feed fat the ancient grudge I bear him.
He hates our sacred nation, and he rails,
Even there where merchants most do congregate,
On me, my bargains and my well-won thrift,
Which he calls interest. Cursed be my tribe,
If I forgive him!

In this extract, his loathing is pertinent. He hates Antonio because he is a Christian. He also hates him since he lends out money without charging interest, compromising Shylock's own money-lending practice, for he charges interest. By lending without interest, Antonio brings down the interest rate which Shylock charges for loans, thus affecting his income. Shylock swears that if he should get Antonio at a disadvantage, he will use it to carry through an age old grudge that he holds against him. Shylock is resentful of the fact that Antonio hates Jews and that he consistently criticizes his money-lending practice. He feels that his people would be cursed if he should ever forgive Antonio for his persistent censure.

It is clear later that Shylock wants to use sly means to draw Antonio into a compromising situation. In a prayer, uttered in the presence of Antonio and Bassanio, he asks what advantage he would gain from the forfeit of a pound of Antonio's flesh if he should not meet the terms of a loan he was going to extend. A pound of flesh is useless to him. He, however, wants to gain Antonio's favor and therefore extends him a kindness in the form of the loan he requests. It is Antonio's choice to accept or reject the bond.  

Later in the play, after Antonio is arrested and imprisoned for failing to repay the loan on the agreed date. Antonio wishes to consult with him, But Shylock is not prepared to reason, and instructs Antonio's jailer:

Gaoler, look to him: tell not me of mercy;
This is the fool that lent out money gratis:
Gaoler, look to him.

Shylock is adamant on punishing Antonio and refuses to negotiate. He has now gained an advantage and wishes to hurt Antonio. He tells the desperate merchant:

I'll have my bond; I will not hear thee speak:
I'll have my bond; and therefore speak no more.
I'll not be made a soft and dull-eyed fool,
To shake the head, relent, and sigh, and yield
To Christian intercessors. Follow not;
I'll have no speaking: I will have my bond.

During the trial later, Shylock addresses the court and, on a question by the duke as to why he wishes to continue with his action against Antonio even though an offer has been made to repay the bond at thrice its value, Shylock responds: 

As to offend, himself being offended;
So can I give no reason, nor I will not,
More than a lodged hate and a certain loathingI bear Antonio, that I follow thusA losing suit against him.

Shylock's unrelenting attitude, bred from his deep contempt for Antonio, is what eventually ensnares him. He becomes a victim of his own malice and almost loses his life. In the end he has to relinquish his religion and become a Christian. He has to give up half of his estate and will the remainder to his Christian son-in-law upon his death.

Shylock's tirade against Antonio is found in Act One, Scene Three. Bassanio has just spoken to Shylock about the loan Antonio had asked him to make, using his good name and status as a trader as a guarantee. When Antonio arrives and asks Shylock whether he will grant the loan, Shylock says the following:

Signior Antonio, many a time and oft
In the Rialto you have rated me
About my moneys and my usances:
Still have I borne it with a patient shrug,
For sufferance is the badge of all our tribe.
You call me misbeliever, cut-throat dog,
And spit upon my Jewish gaberdine,
And all for use of that which is mine own.
Well then, it now appears you need my help:
Go to, then; you come to me, and you say
Shylock, we would have moneys:' you say so;
You, that did void your rheum upon my beard
And foot me as you spurn a stranger cur
Over your threshold: moneys is your suit
What should I say to you? Should I not say
Hath a dog money? is it possible
A cur can lend three thousand ducats?' Or
Shall I bend low and in a bondman's key,
With bated breath and whispering humbleness, Say this;
'Fair sir, you spit on me on Wednesday last;
You spurn'd me such a day; another time
You call'd me dog; and for these courtesies
I'll lend you thus much moneys'?

Shylock here accuses Antonio for treating him with prejudice and contempt. He has often and regularly criticised Shylock about his money and the fact that he lent out capital at interest. Shylock further mentions that Antonio had called him a dog, a heathen and ruthless and that he had spat on his Jewish cloak and all because he used whatever belongs to him (i.e. his own money) so that he may profit. He further accuses Antonio for having spat on his beard and kicked him as he would a bastard dog from his doorway.

It is clear that Shylock is deeply aggrieved at the insulting and humiliating manner in which Antonio had treated him. He asks whether he should not ask rhetorical questions such as, 'Does a dog have money?' or 'Can an unbred hound lend three thousand ducats?' He sarcastically asks whether, in spite of the terrible treatment that Antonio meted out to him, he should, for these kindnesses lend Antonio such an extensive sum of money?

Antonio replies:

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.

Antonio is clearly unrepentant and says that he is more than likely to ill-treat Shylock in the same manner. He suggests that Shylock should not lend the money to him as he would to a friend, but as to an enemy. He suggests that friendship would never allow a friend to ask interest once he has lent money to another (unlike Shylock). This would give Shylock a justified reason to punish him if he should fail to meet the terms of their bond.

The two eventually agree that Shylock will lend Antonio the money free of interest with the condition that if he should forfeit in settling the debt within three months, he should give up a pound of his flesh to shylock from whichever part of his body Shylock deems fit. 

Let's start with what's good about Antonio:

He is sociable, loyal, caring and generous. We know he is social since we first meet him in a social situation with two of his friends, Salarino and Salanio. It is evident from their conversation that they know each other well and share a close relationship, since the two men express concern about Antonio's depressed state. Furthermore, the men seem to have in-depth information about his personal affairs since they easily refer to them. The manner in which they address each other is also evidence of the gentlemanly courtesy and respect they share.

When Salarino and Salanio take their leave, Antonio is joined by Bassanio, Lorenzo, and Gratiano. He is obviously popular. Their conversation follows the same pattern as the previous one. Furthermore, the men jibe about Antonio's condition and he does not take any offense, which indicates a good spirit and a generally positive frame of mind.

We learn about Antonio's loyalty and generosity in his conversation with Bassanio. Even though he knows that he is going to lose the constant presence and companionship of his friend, he is more than prepared to help him. He cares so much about Bassanio that he is prepared to sacrifice this aspect of their relationship to ensure his friend's happiness. Furthermore, his magnanimity is indicated by his unselfish offer to help Bassanio obtain a loan to woo Portia, by offering his name as surety. Additionally, he later agrees to Shylock's harsh terms in granting a loan. He is prepared to sacrifice a pound of his flesh if he should forfeit on the deal (although he doesn't think it possible that he will).

We also learn Antonio is a devout Christian for, as Shylock states, he has only harsh criticism for the Jew committing what he feels is a sin—profiting from usury. It is also evident from his earlier conversations that Antonio is an astute businessman. He has become wealthy from his activities as a merchant. He has been careful enough not to take unnecessary chances by putting all his eggs in one basket—he has spread the risk by using different ships which travel to different destinations.

Antonio's bad qualities are that he is much too harsh, prejudiced, and intolerant toward people who practice other religions, as evidenced by his criticism of Shylock, his activities, and his faith. He has treated him with impunity and kicked him, spat at him, publicly denounced him, and called him a dog. Because of this, he has made the Jew a lifelong enemy. A true Christian, one would suppose, would have loved Shylock anyway, seeing as one Christian principle is "Love thy neighbor."

I was also disappointed by Antonio's seeming hypocrisy. Although he is severely critical of Shylock earning interest, he is prepared to forgo this sentiment so his friend, Bassanio, may benefit. One may argue that this is further proof of his magnanimous nature and that it is a sacrifice on his part. Therefore, the question is why could he then not have made alternative arrangements and borrowed from his wealthy Christian friends if he were, indeed, so disgusted by Shylock's greed?

Shylock has some good qualities of his own. He is also an astute businessman and has profited greatly from his activities. He is a devout father who has taken good care of his daughter Jessica, and has, seemingly, raised her as a single parent, for the most part. He is deeply faithful to his religion and displays in-depth knowledge of scripture.

Shylock is, however, obsessed with material possession and is generally seen as greedy. It seems he cares more about his money and his jewels than people, as evidenced by the fact that he condemns his daughter and states that he would prefer his jewels to her and that he would be happy if she were dead and his precious possessions returned.

Shylock is also stubbornly vengeful and spiteful. He is malicious, harsh, and unforgiving. He deems Antonio's disasters and inability to settle the loan as an ideal opportunity to have his revenge. He has no sympathy and disregards others' appeals that he should be merciful and accept Bassanio's offer to repay the loan at double its value. He insists on having it his own way.

It is this recalcitrance that eventually makes Shylock a victim of his own malice, so much so that he loses everything which he holds dear, even his religion.

This is a very interesting question because the answer depends a lot on how you wish to stage the play and interpret the subtext. Obviously, the simple answer is that Shylock does not treat Antonio very well at all. From our first introduction to him in Act I scene 3 he can be shown to be cruelly manipulative, goading Antonio into accepting the "merry bond" of forfeiting a "pound of flesh" if he is not able to pay back the loan. It is clear from the beginning that Shylock has a deep hatred of Antonio for his identity as a Christian and how he harms Shylock's own business. From the entrance of Antonio it is clear that Shylock wants to plan revenge for the "ancient grudge" he bears him:

How like a fawning publican he looks!

I hate him for he is a Christian,

But more for that in low simplicity

He lends out money gratis and brings down

The rate of usance here with us in Venice.

Shylock seems a character then who is unswerving in his commitment to gaining revenge on Antonio, even rejecting the repeated pleas of characters such as Portia for mercy, insisting on justice and the law--which, ironically, is what he gets, thanks to Portia's manipulation of the law.

However, I like to try to approach Shylock's character with a more understanding glance. Let us not forget that Antonio has treated Shylock abominably--he has spit at his face and insults him, comparing him to the devil. It is clear that Shylock views Antonio as yet another manifestation of how he and his race have been mistreated since the dawn of time. Therefore it is possible to cast Shylock in a far more sympathetic light and portray Antonio as the "baddie" in this play.

The power dynamic between Antonio and Shylock seems to change over the course of the play. In the start Antonio would certainly have a far higher social standing and would therefore be in a position of power over Shylock. As a successful Venetian merchant he would stand well above a Jewish moneylender.

Things change slightly when Antonio needs to borrow money on his friend's behalf. Now they are on a more even footing. The two are engaged in a business deal together. Antonio even agrees to give his life if things go poorly.

Some might say that towards the end of the play Shylock is in a position of power over Antonio. Since the merchant cannot repay him, the moneylender is now in a position to take the old man's life. I would argue this is not the case. As we see from Portia's skilled rescue, the society they live in will not allow a man such as Shylock to have control of a man such as Antonio. If the business deal were to go well for Antonio he would get want he wanted, but if things go poorly for him, he can always go back on his deal, either by trickery or by trade.

This demonstrates that no matter the business advantages he may have, Skylock will never be able to assert true power over his Christian neighbors. 

Antonio and Shylock dislike one another partly because of their beliefs. Shylock accuses Antonio of sanctimony, stating that he hates “him for he is a Christian.” Antonio’s “Christian” spirit leads him to give money without charging interest, undercutting Shylock’s business. As a Jew in Venice, one of the few ways to make money was through usury. Shylock does not have the same rights as the Christians in Venice, for the law considers him an alien and Antonio a citizen.

Antonio despises Shylock’s duplicity, his way of life as a moneylender, and apparently his religion. Shylock says Antonio calls him “misbeliever, cut-throat dog,” spits on him, and kicks him. He even publicly denounces Shylock’s business. Antonio also demonstrates hypocrisy by asking Shylock for money on behalf of his friend Antonio.

When Shylock seeks revenge against Antonio, he notes further hypocrisy in Christians who claim to be merciful. He observes, “If a Jew wrong a Christian, what is his humility? Revenge. If a Christian wrong a Jew, what should his sufferance be by Christian example? Why, revenge.” Shylock also points out that these Christians have “many a purchased slave” which they treat as their own property. Why should he forgive Antonio when Christians do not demonstrate the mercy they espouse?

In the trial, Antonio and the Duke attempt to show Shylock “the difference of our spirits” by pardoning his life and letting him keep half of his wealth. The gesture certainly has religious undertones, for Antonio refers to Shylock’s hard “Jewish heart” and forces him to convert to Christianity. Still, in order to teach Shylock a lesson, Portia does not grant him Christian mercy, initially insisting that Shylock “have merely justice and his bond.” It is the law or nothing else.

Religion in The Merchant of Venice is a very complicated subject. It brings up questions of identity, antisemitism, and true compassion.

I think you need look no further than Act I scene 3 to find a full description of how Shylock and Antonio think about each other. In many ways, the central conflict of the play is between these two characters, as Shylock seems to pick Antonio as a representative of all those who have mocked and disparaged his people or tribe, and Antonio seems to pick out Shylock especially for bad treatment because of his race.

Shylock's aside in Act I scene 3 when Antonio enters his office is particularly telling, revealing the reasons for his hatred and dislike:

How like a fawning publican he looks!

I hate him for he is a Christian,

But more for that in low simplicity

He lends out money gratis and brings down

The rate of usance here with us in Venice.

Later on in the same scene, Shylock openly confronts Antonio with the behaviour he has shown Shylock, saying that he has bullied him, insulted him and spat on him. Of course, Shylock is enjoying the twist of fate that has Antonio, his enemy, who has so often mistreated him, come to Shylock begging for money, and is using this incident to point out to Antonio the inhumanity of his treatment of Shylock. But it is clear that Antonio, in his response, feels no remorse:

I am 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.

Antonio here expresses no guilt, but maintains the existence of the enmity between him and Shylock, basically offering Shylock the chance to gain his revenge if Antonio is unable to pay back the loan. Note too that after Shylock's reference to Jacob's gulling of his father in law, Laban, Antonio compares Shylock to the Devil in his ability to twist scripture to make it say what he wants it to say.

Clearly, therefore, both Shylock and Antonio have a deep and bitter hatred of each other, based on Antonio's mistreatment of Shylock. I think that it is particularly interesting that Antonio chooses to punish Shylock in the most profound way possible at the end of the story - Antonio knows that Shylock would prefer death than conversion, and it is a very cruel ending which should give the audience sympathy for Shylock.

Shylock shows more villainous characteristics than Antonio. This is in keeping with the prevailing racial prejudice of the time which portrayed Jews as greedy and money-grabbing. Whereas Antonio is given to us a kind, generous soul who'll do anything to help out a friend in trouble, Shylock comes across as nasty and vindictive, determined to destroy Antonio for his failure to repay the money he owes him, come what may.

Such is Shylock's villainy that it gets to the stage where he's no longer interested in getting his money back; he actually wants Antonio to suffer. In destroying Antonio, Shylock is getting back at the whole of Christendom for the abominable way that he, and all other Jews, have been treated.

Shylock's motivation for exacting revenge makes him marginally less villainous and more sympathetic. After all, he's subject to appalling levels of persecution and personal abuse on a daily basis simply because he's a Jew. Even so, there's no doubt that Shylock remains very much the villain of the piece, whatever justifications he might offer for his single-minded obsession with destroying Antonio.

Although Antonio himself has certain negative characteristics, most notably an excessive generosity to his improvident friend Bassanio, they can hardly be described as villainous. If we want to find villainy in The Merchant of Venice, we need look no further than Shylock.

It's an odd thing, sometimes, that Shakespeare plays take on a baggage which is more or less separate from the text itself. Othello, in recent years, has become all about Iago: and then Michael Grandage at the Donmar Warehouse did a production with Ewan McGregor that made you realise the play was actually structured entirely around Othello (as the title suggests).

 And I think the same thing genuinely is true of Antonio. The play opens by raising the question of his sadness, it follows the story of his investment, his oddly homosexual attachment to Bassanio (is this his sadness? I think so...), his trial, and then his supposed redemption in the last act. He's certainly the character who gets the most stage time and, I think, speaks the most lines.

Shylock, on the other hand, is only in five scenes. Post-Holocaust, his story has taken on a particular resonance: but the play drops him unceremoniously out at the end of the fourth act, and he doesn't really get the chance to garner any sympathy.

Can you make an argument that Shylock is a Merchant of Venice - though, ironically, not culturally 'of Venice' as such, but an alien in Venice, if you see what I mean? Well, perhaps. But I maintain the structure of the play puts more eggs in Antonio's basket: and a really innovative director would make it work like that onstage, too.

Good question - both are plausible readings!

Shylock has taken the centre of most modern interpretations of the play (of the modern filmed version of the play which, with Al Pacino as Shylock, puts Pacino's face right under the title on the cover!) largely due to the extra frisson created post-Holocaust by the anti-semitism directed towards him. He is indeed a merchant, and his "bond" for a pound of Antonio's flesh forms the centre of the main plot of the play - though he does vanish from the last act altogether, forced to reform into a Christian.

Antonio, however, is also "bound", it seems, not just to Shylock, but to Bassanio, and - of course - his merchant ships are also hugely important to the play. He certainly, appears in more scenes and speaks more lines than Shylock. It is possible that Antonio, in Elizabethan times, was obviously a central character, and Shylock a grotesque, comic second.

There is something else to notice about the title though. It pulls out two of the key themes of the play: firstly the fact that almost everyone in the play could be a "merchant" - everyone is interested in accounts, deeds, worths, values, bonds, prices, gold (if you don't believe me, look for money-talking in Bassanio's election scene).

Secondly, that the merchant is "of Venice", a term which could ambiguously refer to a born Venetian or an outsider living there. Racism is always close to the surface in this play.