A few years since the City of Portland, upon a certain Fourth of July, was nearly consumed by fire, the origin of which was the well-known Cracker. But Portland is undaunted, and proposes this year to have a finer Independence Day than ever. If Mr. PUNCHINELLO might advise, he would recommend to the Portlanders, festivities of a decidedly aquatic character—swimming-matches, going down in diving bells, the playing of fountains, battles between little boys with squirt-guns, regattas, and floating batteries. Mr. P. himself intends to celebrate the coming Fourth upon water—with something in it, of course, to kill the insects. The Maine Liquor Law being in full force in Portland, there will be no difficulty in obtaining ardent spirits on the Fourth; and Mr. PUNCHINELLO therefore the more confidently recommends a full aqueous infusion of the Down East toddies.