Drain the oysters from their liquor, and place them in a covered saucepan with the butter. Set them on the back of the range, and let them simmer gently till the oysters are well plumped out.
Put the oyster liquor in another saucepan with the powdered cracker, and a little pepper. When the oysters are done, remove them from the butter with a fork, and place them on toasted crackers on a hot platter. Add the butter in which they have been cooked to the oyster broth. Let it boil up once. Stir in the cream, and pour over the oysters.