Alexander Schmidt, Shakespeare Lexicon and Quotation Dictionary

Merit, subst. 1) that for which a person deserves honour or reward: “what a m. were it in death to take this poor maid from the world,” Meas. III, 1, 240. “my beauty will be saved by m.” LLL IV, 1, 21 (quibbling); cf. “if men were to be saved by m.” H4A I, 2, 120. “that clear honour were purchased by the m. of the wearer,” Merch. II, 9, 43. “the m. of service is seldom attributed to the true performer,” All's III, 6, 63. H5 II, 2, 34. Troil. III, 2, 99. Cor. II, 3, 172. Hml. II, 2, 558. Lr. I, 1, 54. Oth. II, 3, 270. III, 4, 117. Cymb. I, 4, 91. I, 5, 74. V, 4, 79. Per. II, 3, 12. == desert in a bad sense: “it was not altogether your brother's evil disposition made him seek his death, but a provoking m., set a-work by a reproveable badness in himself,” Lr. III, 5, 8. “so to use them as we shall find their --s and our safety may equally determine,” V, 3, 44. “when we fall we answer others' --s in our name,” Ant. V, 2, 178.
2) that which is deserved, reward, recompense: “my beauty will be saved by m.” LLL IV, 1, 21 (quibbling). “a dearer m., not so deep a maim, have I deserved,” R2 I, 3, 156.
3) worthiness, excellence, good quality: “to whom in vassalage thy m. hath my duty strongly knit,” Sonn. 26, 2. “what m. lived in me,” 72, 2. “place my m. in the eye of scorn,” 88, 2. “that may express my love or thy dear m.” 108, 4. “what m. do I in myself respect,” 149, 9. Gent. V, 4, 144. Wiv. III, 5, 52. Ado III, 1, 70. Mids. V, 92. Merch. II, 9, 39. All's I, 1, 242. II, 1, 151. R2 V, 6, 18. H4B II, 4, 405. H5 V, 1, 8. H8 I, 1, 64. Troil. I, 3, 349. II, 2, 60. II, 3, 202. III, 3, 83. IV, 1, 65. IV, 4, 87. Cor. III, 1, 61. IV, 7, 48. Rom. I, 2, 31. Tim. I, 2, 212. Hml. III, 1, 74. Oth. II, 1, 147. III, 3, 187. Per. II, 2, 9. Used of things, == worth, weight: “and by the m. of vile gold purchase corrupted pardon,” John III, 1, 165 (cf. above: to be saved by m.). “what m. is in that reason which denies the yielding of her up?” Troil. II, 2, 24. “if for the sake of m. thou wilt hear me, rise from thy stool,” Ant. II, 7, 61 (i. e. the importance of what I have to say).