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The exclusive privilege of an incorporated trade necessarily

restrains the competition, in the town where it is established,

to those who are free of the trade. To have served an

apprenticeship in the town, under a master properly qualified, is

commonly the necessary requisite for obtaining this freedom. The

bye-laws of the corporation regulate sometimes the number of

apprentices which any master is allowed to have, and almost

always the number of years which each apprentice is obliged to

serve. The intention of both regulations is to restrain the

competition to a much smaller number than might otherwise be

disposed to enter into the trade. The limitation of the number of

apprentices restrains it directly. A long term of apprenticeship

restrains it more indirectly, but as effectually, by increasing

the expense of education.