He protests. Portia’s observation that “To offend and judge are distinct offices / And of opposèd natures” emphasizes the theme of justice. The prince leaves, and Portia instructs Nerissa to “draw the curtain” on the caskets. A messenger brings news of the imminent arrival of a Venetian lord, who has sent greetings and gifts “of rich value.” Portia is eager to see the visitor, and Nerissa hopes it is Bassanio.

ACT 3 SCENE 1

In Venice, Solanio and Salerio discuss the reported loss of another of Antonio’s ships. Shylock approaches and Solanio observes that “the devil” “comes in the likeness of a Jew.” Shylock accuses them of having a part in Jessica’s elopement, and they torment him, before asking if he has heard about Antonio’s losses at sea. Shylock recalls how “smug” Antonio has been in the past, and tells them that he must now “look to his bond.” Salerio asks what good taking Antonio’s flesh will do, to which Shylock replies “To bait fish,” adding that it will “feed” his “revenge,” showing his callousness. He argues that Antonio has “disgraced,” “hindered” and “mocked” him, solely because he is Jewish. He makes an impassioned speech, pointing out that he is “hurt with the same weapons, subject to the same diseases, healed by the same means, warmed and cooled by the same winter and summer, as a Christian is.”

This plea for tolerance highlights the complexities of the play in terms of the representation of the Jewish faith and of Shylock, intrinsically and separately, and the degree of the audience’s sympathies for various characters, complicated here by Salerio and Solanio’s evident prejudice and Shylock’s evident desire for “revenge.” They are interrupted by Antonio’s servant, who asks Salerio and Solanio to go to his master. As they leave, Tubal arrives. Shylock asks for news of Jessica, but Tubal has not found her, although he reports that she is spending Shylock’s money. He also reports that Antonio has lost another ship, and Shylock wavers between pleasure at Antonio’s misfortune, and rage at his own losses.

ACT 3 SCENE 2

Lines 1–222: Portia asks Bassanio to wait “a day or two” before undertaking the task, as she does not want to lose him but he wants to choose immediately. He confesses his love and Portia agrees, calling for music to play while Bassanio is making his decision. As a song is sung, Bassanio considers the three caskets. Unlike the other suitors, he recognizes that “the outward shows be least themselves.” Rejecting gold as “food for Midas” and silver as the money that passes “’Tween man and man,” Bassanio selects the lead casket. Portia’s aside reveals her happiness as he opens it to reveal her portrait. Portia makes Bassanio “her lord, her governor, her king” and master of her estate and fortune. To seal this, she gives him a ring, which he must never “part from, lose or give away” as this would signal the “ruin” of his love for her. He promises to wear it until he dies, another “bond” which must be upheld. Nerissa and Gratiano congratulate the couple and Gratiano reveals that he is in love with Nerissa, before asking permission to marry her. Bassanio and Portia agree. As they joke happily together, Lorenzo arrives, accompanied by Salerio and Jessica.

Lines 223–333: Bassanio and Portia welcome their visitors, and Salerio gives Bassanio a letter from Antonio. Gratiano says that Antonio will be pleased by the news of the betrothals, but Portia is watching Bassanio and comments that the letter “steals the color from Bassanio’s cheek.” Bassanio reveals the truth about the loan, and Antonio’s bond, before questioning Salerio about the loss of Antonio’s fortunes. Salerio tells him that even if Antonio could now find the money, Shylock is determined to have “forfeiture … justice and his bond.” Jessica confirms that her father has often sworn that he would “rather have Antonio’s flesh / Than twenty times the value of the sum.” Bassanio describes Antonio to Portia as “the dearest friend” and “the kindest man.” She says that Bassanio must pay as much as it takes to release Antonio, and offers him gold to “pay the petty debt twenty times over.” She decides that they shall be married quickly, then Bassanio shall go back to Venice with Gratiano, while she and Nerissa “live as maids and widows” until their return. Bassanio reads Antonio’s letter, which urges him to come and see him, as it is unlikely that he will live after paying the forfeit. Portia urges him to “be gone!” and Bassanio promises to return as soon as he can.

ACT 3 SCENE 3

Antonio is in jail. Shylock will not listen to requests for “mercy,” and his bitterness seems to have driven him to the edges of sanity as he constantly repeats that he will “have [his] bond.” He leaves, and Antonio resolves that he will stop begging, recognizing that Shylock wants him to die for the times he has helped people who owed him “forfeitures,” although he does not acknowledge that the persecution of Shylock for his faith may have contributed to his desire for revenge. He knows that the duke cannot prevent Shylock from exacting the bond, because to do so would be to “impeach the justice of the state.” Antonio sends Solanio away, hoping that Bassanio will come to see him “pay his debt.”

ACT 3 SCENE 4

Lorenzo tells Portia that if she knew Antonio, she would be even “prouder” of her role in trying to save him. She replies that she sees saving Antonio as the same as saving Bassanio, and announces her intention to withdraw to a monastery with Nerissa, to live “in prayer and contemplation” while Bassanio is away. She asks Lorenzo and Jessica to take the place of Bassanio and herself until this time. Portia then hands Balthasar a letter to take to her cousin, Doctor Bellario in Padua, and instructs him to bring back “what notes and garments” the doctor gives him.