A late dinner re-united us, and the fatigues of the morning having been repaired by an hour's rest in the afternoon, our party was more than usually fresh and ready for enjoyment when we met in the evening. I had availed myself of Annie's permission, and selected my subject. It was a crayon sketch of a lovely lake, taken by Philip Oswald, the son of one of my most valued friends. The sketch was made while all around remained in the wilderness of uncultivated nature. Since that day, the stillness has been disturbed by the sound of the axe and the hammer. Upon the borders of that sweet lake, a fair home has risen, from which the incense of grateful and loving hearts has gone up to the Creator of so much beauty. The associations which made this scene peculiarly interesting to me I had long since written out, and now give to the reader under the title of LOSS AND GAIN; OR, HEARTS VERSUS DIAMONDS. Winter had thrown its icy fetters over the Hudson, and stilled even the stormier waves of the East River, as the inhabitants of New-York designate that portion of the Harbor which lies between their city and Brooklyn. The city itself--its streets--its houses--all wore the livery of this "ruler of the inverted year"--while in many a garret and cellar of its crowded streets, ragged children huddled together, seeking to warm their frozen limbs beneath the scanty covering of their beds, or cowering over the few half-dying embers, which they misnamed a fire. Yet the social affections were not chilled--rather did they seem to glow more warmly, as though rejoicing in their triumph over the mighty conqueror of the physical world. Christian charity went forth unchecked through the frosty air and over the snow-clad streets, to shelter the houseless, to clothe the naked, to warm the freezing. Human sympathies awoke to new-life, the dying hopes and failing energies of man; and the sleigh-bells, ringing out their joyous peals through the day, and far, far into the night, told that the young and fair were abroad braving all the severities of the season, in their eager search after pleasure. In the neighborhood of Waverley Place, especially, on the evening of the 16th of December, did this merry music "wake the silent air" to respond to the quick beatings of the gay young hearts anticipating the fete of fetes, the most brilliant party of the season, which was that evening to be given at the house of the ruler of fashion--the elegant Mrs. Bruton.