Sir WALTER SCOTT.--Wherever the new Theatre is built, I hope it will not be large. There are two errors which we commonly commit--the one arising from our pride, the other from our poverty. If there are twelve plans, it is odds but the largest, without any regard to comfort, or an eye to the probable expense, is adopted. There was the College projected on this scale, and undertaken in the same manner, and who shall see the end of it? It has been building all my life, and may probably last during the lives of my children, and my children’s children. Let not the same prophetic hymn be sung when we commence a new Theatre, which was performed on the occasion of laying the foundation-stone of a certain edifice, “Behold the endless work begun.” Playgoing folks should attend somewhat to convenience. The new Theatre should, in the first place, be such as may be finished in eighteen months or two years; and, in the second place, it should be one in which we can hear our old friends with comfort. It is better that a moderate-sized house should be crowded now and then, than to have a large theatre with benches continually empty, to the discouragement of the actors and the discomfort of the spectators. (Applause.) He then commented in flattering terms on the genius of Mackenzie and his private worth, and concluded by proposing “The Health of Henry Mackenzie, Esq.” Immediately afterwards he said:--Gentlemen, it is now wearing late, and I shall request permission to retire. Like Partridge, I may say, “NON SUM QUALIS ERAM.” At my time of day I can agree with Lord Ogilvie as to his rheumatism, and say, “There’s a twinge.” I hope, therefore, you will excuse me for leaving the chair.--The worthy Baronet then retired amidst long, loud, and rapturous cheering. Mr. PATRICK ROBERTSON was then called to the chair by common acclamation. Gentlemen, said Mr. Robertson, I take the liberty of asking you to fill a bumper to the very brim. There is not one of us who will not remember, while he lives, being present at this day’s festival, and the declaration made this night by the gentleman who has just left the chair. That declaration has rent the veil from the features of the Great Unknown--a name which must now merge in the name of the Great Known. It will be henceforth coupled with the name of SCOTT, which will become familiar like a household word. We have heard the confession from his own immortal lips--(cheering)--and we cannot dwell with too much or too fervent praise on the merits of the greatest man whom Scotland has produced. After which several other toasts were given, and Mr. Robertson left the room about half-past eleven. A few choice spirits, however, rallied round Captain Broadhead of the 7th Hussars, who was called to the chair, and the festivity was prolonged till an early hour on Saturday morning.