MyopponentsduringthecampaignhadlaidmuchstressuponmysupposedpersonalambitionandintentiontousetheofficeofPresidenttoperpetuatemyselfinpower。Ididnotsayanythingonthesubjectpriortotheelection，asIdidnotwishtosayanythingthatcouldbeconstruedintoapromiseofferedasaconsiderationinordertosecurevotes。Butonelectionnight，afterthereturnswereinIissuedthefollowingstatement：“ThewisecustomwhichlimitsthePresidenttotwotermsregardsthesubstanceandnottheform，andundernocircumstanceswillIbeacandidatefororacceptanothernomination。”
Thereasonformychoiceoftheexactphraseologyusedwastwofold。Inthefirstplace，manyofmysupporterswereinsistingthat，asIhadservedonlythreeandahalfyearsofmyfirstterm，cominginfromtheVice-PresidencywhenPresidentMcKinleywaskilled，Ihadreallyhadonlyoneelectiveterm，sothatthethirdtermcustomdidnotapplytome；andIwishedtorepudiatethissuggestion。IbelievedthenandIbelievenowthethirdtermcustomortraditiontobewholesome，and，therefore，Iwasdeterminedtoregarditssubstance，refusingtoquibbleoverthewordsusuallyemployedtoexpressit。Ontheotherhand，IdidnotwishsimplyandspecificallytosaythatI
wouldnotbeacandidateforthenominationin1908，becauseifIhadspecifiedtheyearwhenIwouldnotbeacandidate，itwouldhavebeenwidelyacceptedasmeaningthatIintendedtobeacandidatesomeotheryear；andIhadnosuchintention，andhadnoideathatIwouldeverbeacandidateagain。CertainnewspapermendidaskmeifI
intendedtoapplymyprohibitionto1912，andIansweredthatIwasnotthinkingof1912，norof1920，norof1940，andthatImustdeclinetosayanythingwhateverexceptwhatappearedinmystatement。
ThePresidencyisagreatoffice，andthepowerofthePresidentcanbeeffectivelyusedtosecurearenomination，especiallyifthePresidenthasthesupportofcertaingreatpoliticalandfinancialinterests。Itisforthisreason，andthisreasonalone，thatthewholesomeprincipleofcontinuinginoffice，solongasheiswillingtoserve，anincumbentwhohasprovedcapable，isnotapplicabletothePresidency。Therefore，theAmericanpeoplehavewiselyestablishedacustomagainstallowinganymantoholdthatofficeformorethantwoconsecutiveterms。ButeveryshredofpowerwhichaPresidentexerciseswhileinofficevanishesabsolutelywhenhehasonceleftoffice。Anex-Presidentstandspreciselyinthepositionofanyotherprivatecitizen，andhasnotoneparticlemorepowertosecureanominationorelectionthanifhehadneverheldtheofficeatall——