In arguing for more tariffs on goods imported to the United States, President Donald Trump has repeatedly claimed that the U.S. was its “richest” or “wealthiest” during the late 1800s and early 1900s because of tariffs.

It was the Gilded Age, a time of rapid population growth and transformation from an agricultural economy toward a sprawling industrial system, when poverty was widespread while barons of phenomenal wealth,

President Trump foresees “a period of transition” before his tariffs replicate the Gilded Age economic boom. With opponents warning about that “pain,” he can look to predecessors of that era for guidance on America’s nerves.