The Exchange is a curious ancient building. It is very long and narrow, and surmounted by nine peaks, from the centre of which protrudes a remarkable pointed tower, formed of four crocodiles' tails intertwined. The hall itself is small, low, and dark; it contains a full-length portrait in oil of Tycho de Brahe. Nearly all the upper part of the building is converted into a kind of bazaar, and the lower portion contains a number of small and dingy booths. Several canals, having an outlet into the sea, give a peculiar charm to the town. They are, in fact, so many markets; for the craft lying in them are laden with provisions of all kinds, which are here offered for sale. The Sailors' Town, adjoining Copenhagen, and situated near the harbour, is singularly neat and pretty. It consists of three long, broad, straight streets, built of houses looking so exactly alike, that on a foggy night an accurate knowledge of the locality is requisite to know one from the other. It looks as though, on each side of the way, there were only one long house of a single floor, with a building one story high in the middle. In the latter dwell the commandant and overseers. The lighting of the streets is managed in Copenhagen in the same way as in our smaller German towns. When "moonlight" is announced in the calendar, not a lamp is lighted. If the lady moon chooses to hide behind dark clouds, that is her fault. It would be insolent to attempt to supply the place of her radiance with miserable lamps--a wise arrangement! (?) Of the near walks, the garden of the "Rosenburg," within the town, pleased me much; as did also the "Long Line," an alley of beautiful trees extending parallel with the sea, and in which one can either walk or ride. A coffee-house, in front of which there is music in fine weather, attracts many of the loungers. The most beautiful place of all is the "Kastell," above the "Long Line," from whence one can enjoy a beautiful view. The town lies displayed below in all its magnificence: the harbour, with its many ships; the sparkling blue Sound, which spreads its broad expanse between the coasts of Denmark and Sweden, and washes many a beautiful group of islands belonging to one or the other of these countries. The background of the picture alone is uninteresting, as there is no chain of mountains to form a horizon, and the eye wanders over the boundless flats of Denmark. Among the vessels lying at anchor in the harbour I saw but few three-masters, and still fewer steamers. The ships of the fleet presented a curious appearance; at the first view they look like great houses with flag-staves, for every ship is provided with a roof, out of which the masts rise into the air; they are besides very high out of the water, so that all the port-holes and the windows of the cabins appear in two or three stories, one above the other.