Firmin: (Spoken)
Monsieur Andre!

Andre: (Spoken)
Monsieur Firmin!

Firmin:
Dear Andre, what a splendid party

Andre:
The prelude to a bright new year

Firmin:
Quite a night, I'm impressed

Andre:
Well, one does one's best

Andre and Firmin:
Here's to us

Andre:
A toast for the city!

Firmin:
What a pity that the Phantom can't be here!

Chorus/Crowd:
Masquerade! /Paper faces on parade/Masquerade! /Hide your face so the world will never find you/Masquerade! /Every face a different shade/Masquerade! /Look around, there's another mask behind you.

Flash of mauve/Splash of puce/Fool and king/Ghoul and goose/Green and black/Queen and priest/Trace of rouge/Face of beast/Faces!/Take your turn, take a ride/On the merry-go-round/in an inhuman race/Eye of gold/True is false/Who is who?/Curl of lip/Swirl of gown/Ace of hearts/Face of clown/Faces!/Drink it in, drink it up/Till you've drowned/In the light/In the sound/But who can name the face?

Masquerade! /Grinning yellows, spinning reds/Masquerade! /Take your fill, let the spectacle astound you/Masquerade! /Burning glances, turning heads/Masquerade!/Stop and stare at the sea of smiles around you/Masquerade!/Seething shadows breathing lies/Masquerade!/You can fool any friend who ever knew you/Masquerade!/Leering satyrs, peering eyes/Masquerade!/Run and hide, but a face will still pursue you.

CARLOTTA:
What a night!

Firmin
What a crowd!

Andre:
Makes you glad

FIRMIN
Makes you proud! All the crème, De la crème

MADAME GIRY: (Overlapping)
Watching us….

MEG (Overlapping)
Watching them

CARLOTTA: (Overlapping)
All our fears are in the past

Andre:
Three months

Piangi:
Of relief!

Carlotta:
Of delight!

[ From: http://www.metrolyrics.com/masqueradewhy-so-silent-lyrics-phantom-of-the-opera.html ]
Andre
Of Elysian peace!

PIANGI
And we can breathe at last.

Carlotta:
No more notes

Piangi:
No more ghost

Madame Giry:
Here's a health

Andre
Here's a toast, to a prosperous year

Firmin:
To our friends who are here

Piangi and Carlotta:
And may the splendor never fade!

Firmin/Andre:
What a blessed release!

Madame Giry:
And what a masquerade!

Christine:
Think of it
(Spoken)
A secret engagement. Look, your future bride. Just think of it.

Raoul: (Spoken)
But, why is it secret? What have we to hide? You promised me.

Christine: (Spoken)
No, Raoul, please don't, they'll see.

Raoul: (Spoken)
Well then let them see. It's an engagement, not a crime.
(Sung)
Christine, what are you afraid of?

Christine(and Raoul in parenthesis):
Let's not argue(Let's not argue)/Please pretend (I can only hope)/You will understand in time (I'll understand in time)

Chorus/Crowd:
Masquerade!/Paper faces on parade/Masquerade!/Hide your face so the world will never find you/Masquerade!/Every face a different shade/Masquerade!/Look around, there's another mask behind you/Masquerade!/Burning glances, turning heads/Masquerade!/Stop and stare at the sea of smiles around you/Masquerade!/Grinning yellows, Spinning reds/Masquerade!/Take your fill, let the spectacle astound you.

( Voices fade and turn to gasps as th lights dim and the Phantom appears at the top of th stairways )

Phantom:
Why so silent, good Messieurs?/Did you think that I had left you for good?/Have you missed me, good Messieurs?/I have written you an opera./Here, I bring the finished score./Don Juan Triumphant!/Fondest greetings to you all/A few instructions just before rehearsal starts/Carlotta must be taught to act/Not her normal trick of strutting round the stage/Our Don Juan must lose some weight/It's not healthy in a man of Piangi's age/And my managers must learn that their place is in an office/Not the arts/As for our star, Miss Christine Daae...

No doubt she'll do her best/It's true, her voice is good/She knows, though/Should she wish to excell/She has much still to learn/If pride will let her return to me, her teacher/Her teacher...

Phantom:
Your chains are still mine,
(spoken)
You belong to me!

(The Phantom runs to the middle of the stairway and disappears into the floor hidden by fire. Raoul jumps into the hole in the floor with sword in hand and the floor closes again)