We have just received two numbers of a New York periodical, entitled the "Euterpeiad, a Musical Review and Tablet of the Fine Arts," published every fortnight, or, as our transatlantic fellow-labourers express it, "semi-monthly," and feel flattered at finding our opinions quoted, our columns referred to with acknowledgment, and, still more, our custom of giving good and _cheap_ music, followed, though on a smaller scale, by this critic of the new world. One of the two numbers before us contains Paisiello's delightful serenade from the Barber of Seville, as arranged by Bishop for two voices; and the other, a movement from Rossini's overture to William Tell; both very creditable, as well to the selector's taste as to the progress of American musical typography. The "Euterpeiad" is not confined to music, but embraces the whole circle of the fine arts, theatrical criticism, and even original tales. We are concerned, however, only with the musical part, and, as a specimen of the manner in which it is probable that department will be conducted, give the following extract from the editor's address: "In regard to music, since the appearance of Weber, an almost new era has commenced. In the works of this celebrated composer, the proverb has been realized--the German Professor has given to his notes the power of language: emotions are almost imbibed from the sounds as from a visible transaction, or a well-told description. If the country which presents the highest or most generally approved attainments in singing, be demanded, perhaps the correct answer would be Italy. The contest afterwards for the highest eminence would lie between England, Germany, and France. The Scottish, Irish, and Welsh compositions, and English ballad music, must of course come under the aggregation of the English school, and availing itself of this union, and taking into view the circumstance of having for a considerable period steadily adopted, and engrafted upon its own stock, the beauty and excellence in the science manifested by the Germans and Italians, the claims of this school become formidable. And it is this which, through the medium of the same tongue, extends an immediate and irresistible influence over the United States.