Originally Posted by
Charles Darnay
It is a difficult question indeed and one without an obvious angle, because it depends on what angle you take.
Keep in mind that when Merchant was first staged in the mid-1590s, Jews had been expelled from England for over 3 centuries. No one in England would have met a Jew, or known what a Jew looked like. This was the same time that the Church portrayed Jews as devils (with actual horns), so believe that a Jew had horns and a tail, and fangs, was not terribly uncommon.
Also bear in mind other notable portrayals of Jews in theatre around the same time: the most famous is Barabbas from Marlowe's Jew of Malta. Now Barabbas was both a villain and a clown who freely admitted to such acts as poisoning wells. There was no way to look at Barabbas sympathetically - he was evil.
Shylock transcends Barabbas as a character, but as I have argued before, he is not sympathetic, really. People have twisted his speech in III.i to make him sound sympathetic, but this is really itself a twisted sense of morals. But what Shakespeare does in Merchant of Venice is give us a Jew (Shylock) seen through the eyes of the Christian heroes.
The scene where Solanio is telling the story of Shylock running around screaming "my daughter, my duckets!" is a perfect example of this: we do not see Shylock doing this, only a report of it. We actually see Shylock doing very little except clinging to his bond. He appears in only 4 scenes - two of which he does nothing that could count him a villain.
Meanwhile, the Christians who are meant to be the paragons of good are themselves not so. Bassanio is a player, and Portia, that great angel, is a hypocrite. Her "quality of mercy" speech is as perverted (morally speaking) as Shylock's "if you prick us speech" - she is no better. She preaches mercy and then luxuriates in her trap that she sets up for Shylock.
So do we see an anti-Jewish portrayal of Shylock - yes, but I believe in a way that illustrates how society works not to contribute to it.
Merchant of Venice is a comedy, or it was. It is now seen as a problem play or dark comedy, but this was not the case. It is not until the 20th century that racial morals enter into it, and the ideal playing of this piece would be as a complete farce where no one is spared - so that the audience may see how base humanity really is.