A common consensus was that more needed to be done to sell the bonds to small investors and the common man, rather than large concerns. The poor reception of the first issue resulted in a convertible re-issue five months later at the higher interest rate of 4% and with more favorable tax terms. When the new issue arrived it also sold below par, although the Times noted that "no Government bonds can sell at par except temporarily and by accident." The subsequent 4.25% bond priced as low as 94 cents upon arrival.