I believe it's leftover from typing typing (like, on a typewriter). Something about how if you only used one space, the way the period would go onto the paper was wonky and you needed to use two to signify the end of a sentence. Now that we're into computers and it's much more apparent what the end of a sentence is, only one is necessary, but I find myself using two all the time.
Even typing this little blurb with only one space between period and new sentence is proving difficult.
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