In Venice, Salanio and Salarino are discussing the latest news on the Rialto, the bridge in Venice where many business offices are located. There is a rumor that a ship of Antonio's has been wrecked off the southeast coast of England. Salanio despairs twice — once because of Antonio's bad luck, and second because he sees Shylock approaching. Shylock lashes out at both men, accusing them of being accessories to Jessica's elopement. They expected as much and mock the moneylender, scoffing at his metaphor when he complains that his "flesh and blood" has rebelled. Jessica, they say, is no more like Shylock than ivory is to jet, or Rhenish wine is to red wine. Shylock then reminds the two that their friend Antonio had best "look to his bond . . . look to his bond." The implication is clear; Shylock has heard of the shipwreck.
Surely, says Salarino, if Antonio forfeits the bond, "thou wilt not take his flesh." Shylock assures them that he will, for he is determined to be revenged on Antonio for many grievances, all committed against Shylock for one reason: because Shylock is a Jew. A Jew is a human being the same as a Christian, Shylock continues; like a Christian, a Jew has "eyes . . . hands, organs, dimensions, senses, affections, passions . . . [is] hurt . . . subject to the same diseases, [and] healed by the same means." Like a Christian, a Jew bleeds if pricked, and since a Christian always revenges any wrong received from a Jew, Shylock will follow this example. A servant enters then and informs Salanio and Salarino that Antonio wishes to see them at his house.
As they depart, Shylock's friend Tubal enters. Tubal has traced Jessica to Genoa, where he has heard news of her but could not find her. Shylock again moans about his losses, especially about his diamonds and ducats; he wishes Jessica were dead. Tubal interrupts and tells Shylock that he picked up additional news in Genoa: Another of Antonio's ships has been "cast away, coming from Tripolis." Shylock is elated. But as Tubal returns to the subject of Jessica's excessive expenditures in Genoa, Shylock groans again. Thus Tubal reminds Shylock of Antonio's tragic misfortunes, and the moneylender exults once more. One thing is certain, Tubal assures Shylock: "Antonio is certainly undone." Shylock agrees and instructs Tubal to pay a police sergeant in advance to arrest Antonio if he forfeits the bond.
