On the other hand, I did
not wish simply and specifically to say that I would not be a candidate
for the nomination in 1908, because if I had specified the year when I
would not be a candidate, it would have been widely accepted as meaning
that I intended to be a candidate some other year; and I had no such
intention, and had no idea that I would ever be a candidate again.
Certain newspaper men did ask me if I intended to apply my prohibition
to 1912, and I answered that I was not thinking of 1912, nor of 1920,
nor of 1940, and that I must decline to say anything whatever except
what appeared in my statement.
The Presidency is a great office, and the power of the President can be
effectively used to secure a renomination, especially if the President
has the support of certain great political and financial interests. It
is for this reason, and this reason alone, that the wholesome principle
of continuing in office, so long as he is willing to serve, an incumbent
who has proved capable, is not applicable to the Presidency. Therefore,
the American people have wisely established a custom against allowing
any man to hold that office for more than two consecutive terms.
But every shred of power which a President exercises while in office
vanishes absolutely when he has once left office.
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