"Oysters, of course, are never 'stewed,' which means prolonged cooking, they are merely heated and added to the hot liquid, usually milk. A simple stew would consist in heating oysters in their own strained liquor with water added to make 'enough.'"
— Charles Browne
*Note: You can also use heavy cream, or a combination of heavy cream and milk as long as it totals 1 quart.
Bring the milk and/or cream to a boil in a medium-sized saucepan over medium-high heat. Watch carefully to make sure it does not boil over.
Meanwhile, combine the oysters together with their liquor, melted butter, and crushed oyster crackers in a small saucepan. Heat them gently over low heat until the oysters are just warmed through. Season with salt and pepper, to taste. Combine with the milk mixture and serve immediately. Garnish with paprika, to taste.