The condemnation of usury by Western Christendom cannot be understood except in relation to the severity of its legal attitude, inherited from Roman Law, towards the defaulting debtor. The pound of flesh story has a basis in historical fact for, according to the Law of the Twelve Tables, a defaulting debtor could be torn to pieces alive. In many medieval contracts the borrower agreed, in the case of default, to pay double the amount of the loan as a forfeit, and imprisonment for debt continued into the nineteenth century. It was possible to consider interest on a loan immoral because the defaulting debtor was regarded as a criminal, that is to say, an exception to the human norm, so that lending was thought of as normally entailing no risk. One motive which led the theologians of the sixteenth century to modify the traditional theories about usury and to regard it as a necessary social evil rather than as a mortal sin was their fear of social revolution and the teachings of the Anabaptists and other radical Utopians.
These, starting from the same premise of Universal Brotherhood which had been the traditional ground for condemning usury, drew the conclusion that private property was unchristian, that Christians should share all their goods in common, so that the relation of creditor to debtor would be abolished. Thus, Luther, who at first had accused Catholic theologians of being lax towards the sin of usury, by 1524, was giving this advice to Prince Frederick of Saxony:It is highly necessary that the taking of interest should be regulated everywhere, but to abolish it entirely would not be right either, for it can be made just. I do not advise your Grace, however, to support people in their refusal to pay interest or to prevent them from paying it, for it is not a burden laid upon people by a Prince in his law, but it is a common plague that all have taken upon themselves. We must put up with it, therefore, and hold debtors to it and not let them spare themselves and seek a remedy of their own, but put them on a level with everybody else, as love requires.
Shylock is a Jew living in a predominandy Christian society, just as Othello is a Negro living in a predominandy white society. But, unlike Othello, Shylock rejects the Christian community as firmly as it rejects him. Shylock and Antonio are at one in refusing to acknowledge a common brotherhood.
I will buy with you, sell with you, talk with you, walk with you, and so following, but I will not eat with you, drink with you, nor pray with you. (Shylock.)
I am as like
To spit on thee again, to spurn thee, too.
If thou wilt lend this money, lend it not
As to thy friends . . .
But lend it rather to thine enemy,
Who if he break, thou mayst with better face
Exact the penalty. (Antonio.)
In addition, unlike Othello, whose profession of arms is socially honorable, Shylock is a professional usurer who, like a prostitute, has a social function but is an outcast from the community. But, in the play, he acts unprofessionally; he refuses to charge Antonio interest and insists upon malting their legal relation that of debtor and creditor, a relation acknowledged as legal by all societies. Several critics have pointed to analogies between the trial scene and the medieval
You have among you many a purchased slave
Which, like your asses and your dogs and mules,
You use in abject and in slavish parts,
which points out that those who preach mercy and brotherhood as universal obligations limit them in practice and are prepared to treat certain classes of human beings as things.