This is true, not having a navy has shown itself to be a weakness of many nations/civilizations in the past. And there are also good reasons why this is so. Not having a navy strongly impacts a civilizations ability to maneuver around certain points and go around them. It also limits the ability to trade with other natons. Not to mention the additional value of having the firepower of ships (those that had cannons later on at least).
To show his support for the federal government's authority to tax.
Answer:
The banks' customers could not repay their loans.
People sold off bank stocks, making them worthless.
People stopped taking out loans because they were bankrupt.
The Federal Reserve Board reduced how much money it gave banks to loan.
They call it <span>china's sorrow hope this helped</span>
