SATURDAY, FEB. 24. All the land grants in California are blindly defined; a mountain bluff, lagoon, river, or ravine serve as boundaries; and these not unfrequently comprehend double the leagues or acres contemplated in the instrument. No accurate surveys have been made; and the only legal restrictions falling within these vague limits, is in the shape of a provision that the excess shall revert to the public domain. This provision, which is inserted in most of the grants, will throw into the market, under an accurate survey, some of the best tracts in California. These will be seized upon by capitalists and speculators, and held at prices beyond the means of emigrants, unless some legislative provision shall extend peculiar privileges to actual settlers. The lands which lie through the gold region are uninvaded by any private grants, except one on the Mariposa, owned by Col. Fremont; one on the Cosumes, owned by W. E. P. Hartnell, and the limited claims of Johnson on Bear river, and Capt. Sutter on the Americano. All the other lands stretching from Feather river on the north, to the river Reys on the south, covering five hundred miles along the slopes of the Sierra Nevada, belonging to the public domain, and should never become private property so long as it is for the interests of the United States to encourage mining in California. Any system of private proprietorship will result in monopoly and bloodshed. Let companies lease their sections, and private individuals pay their license; and let every regulation look more to the encouragement it extends, than the revenue it exacts.