Starting with George Washington and lasting through Harry S. Truman, presidents could serve as many terms as they could win. It wasn’t till after Franklin D. Roosevelt won four consecutive presidential elections, leaving office only because he died, that the government decided limits might be a good idea.
In the beginning, the U.S. had no presidential term limits because it had no president at all under the Articles of Confederation. Granted, there was a president of the Continental Congress in the 1780s, but it was not a chief executive position. The Articles’ framers in the Second Continental Congress purposely left out a head-of-state because they worried about creating another king, à la George III, with whom they’d just severed ties.