Act 1, scene 1 of Shakespeare's The Merchant of Venice opens with Antonio, the Venetian merchant of the title, confiding in his friends Salerio and Solanio, that he's been feeling sad, but he doesn't know why. Antonio says that hasn't been himself lately, and he feels foolish because he isn't able to determine the cause of his sadness.
ANTONIO. In sooth, I know not why I am so sad;
It wearies me; you say it wearies you;
But how I caught it, found it, or came by it,
What stuff 'tis made of, whereof it is born,
I am to learn;
And such a want-wit sadness makes of me,
That I have much ado to know myself. (1.1.1-7)
Salerio has the answer. He knows that Antonio has many merchant ships at sea, and he quite naturally surmises, "Your mind is tossing on the ocean" (1.1.8).
Salerio poetically describe Antonio's...
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ships as "argosies," stately merchant ships in full sail—resembling proud, rich, "portly" merchants—which cross the seas like a parade of noblemen and wealthy members of the uper class.
Antonio's ships lord over lesser ships, the "petty traffickers" (1.1.12), and command their respect as they "fly by them" (1.1.14) with greater speed, impotance, and purpose.
Solanio says that if he had as much ventured on the ocean as Antonio does, he's be worried all the time, and constantly checking the wind and consulting charts and maps. Everything would make him afraid for his ships, and that would certainly make him sad.
SOLANIO. And every object that might make me fear
Misfortune to my ventures, out of doubt
Would make me sad. (1.1.20-22)
Salerio reminds Antonio of all the things that might endanger his ships. He paints a picture of the utter destruction that await Antonio's ships in the "shallows" and against the "dangerous rocks," and reminds Antonio of the total ruin that Antonio will suffer if his ships are wrecked and his spices scattered "on the stream" (1.1.34), and his silks spread across the "roaring waters" (1.1.35).
Salerio is wrong. Antonio isn't at all troubled by the dangers facing his ships at sea.
ANTONIO. Believe me, no; I thank my fortune for it,
My ventures are not in one bottom trusted,
Nor to one place; nor is my whole estate
Upon the fortune of this present year:
Therefore my merchandise makes me not sad. (1.1.42-46)
Salanio offers his own reason for Antonio's sadness:
SALANIO. Why, then you are in love. (1.1.47)
Nope, that's not it, either, says Antonio, Actually, Antonio says "Fie, Fie!" (1.1.48), which is a more emphatic way of saying that Salanio hasn't got a clue about what's troubling Antonio.
Salanio and Salerio give up trying to discover the source of Antonio's sadness, and they leave Antonio in the company of Antonio's other friends, Lorenzo, the long-winded Gratiano, and Bassanio, who distracts Antonio from his sadness with a request that Antonio lend him money.
These lines are spoken by Salerio (I.i.8-14). Salerio is a friend of Antonio, who is one of the main characters of the play. Salerio is replying to Antonio, who has just opened the play by admitting he feels depressed, although he has no idea why.
And such a want-wit sadness makes of me,
That I have much ado to know myself. (I.i.6-7)
Antonio says here that in fact he is feeling so despondent that it's affecting his mind; his sadness makes him lose his wits, so that he hardly knows who he is.
Salerio suggests in his reply that Antonio, a wealthy Venetian merchant, is preoccupied by thoughts of his business, his cargo ships at sea. Salerio emphasises the extent of Antonio's mental distraction with the phrase 'Your mind is tossing on the ocean' which conjures up an image of Antonio's restless, fitful thoughts, as though they were literally being carried along on the waves.
The 'argosies' are Antonio's ships, which sail with full sails in a grand manner, like eminent gentlemen ('signiors') and citizens ('burghers'), as though they were taking part in a splendid 'pageant,' or show, on the waters. Salerio goes on to fancifully imagine these imposing ships haughtily passing by lesser vessels (the 'petty traffickers') who make a show of respect to them as they skim by.
In this quote, then, Salerio paints a glowing picture of the magnitude and splendour of his friend Antonio's trade, no doubt in a bid to cheer him up.