A letter ot' a Germán merchant itt Honolulú says : Two weeks ugo we had a naü at the palace of our King Lunalilo I. He is niy triend. Wiicn bo taran stil] mnly Crown Prince I louned hun Dnoe.fï - only tor a day, as hts said. When I met liim a year alter I reiniudcd hiin oí ttio loan, but ho told mo to wnit tiil h-j ghoiild boconio Kitig, ot' whioh tliü ptoepauta wers thon vory sliht. Buk now he is King. and I have silently made hira a present of thti $2--chaap fiiuiidship ooiisiaoring he is a King. It wan a fine baö, wtiich ha gtive in honor of tlio Etigiish Admiral, and thn King was tho first who got jfloriously druuk ; next carne tho musicians, theu the guests, and fiually I myself began to fael a little uustaidy. I miw a young Kaglisb. naval officer occupy the kingly throne, with a Honolulú girl by his side, wüe thy Kiticf imd Ciueen Lmum sat at bis teet. Then tho King took a drura and walked aiound the flooi', beating tho tuttoo. Finally the musician began quarreling and fightiug in regular John Buil style, so that tbeadmiralcould not part them ; and all this in the inidst of tho court ball. But our King is s li i to have tmused himseli' exceedinjily, partiuularly as lot-i ot drinkableB rcinaiaed tor hito to consume himself, thouh au (iwful quantity was drunk. Whether be did consume it all, I don't know ; but it is said that ho was not sober i'or two weeks atterward, though ho can stand a vast aniount. Otherwiso the Kiug is a good fellow, aud likes ua vieimans particularly, probably because wu " truated " him so ot'ten whon he was inerely Crown Princo. Ha has even learned some Gerinan songs, which he sin8 passably ; for in3tance, "Wben thaswallows homeward fly," and "Out ot' the t-ivern jast stepped to-night,"