Jim,
I have no idea what the actual rationale behind this rule is.
The two "reasons" I have heard suggested (both of which strike me as ludicrous) are:
1. To prevent the pitcher from surreptitiously applying a "foreign substance" to the ball (presumably from his mouth) while hiding the action with his glove.
and
2. So the pitcher cannot prevent the batter from seeing his eyes.
JM
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