Besides the episode featuring famed showman P. T. Barnum and his protege Jenny Lind, there's at least one other element in the series that was based on reality. The scheming sawmill owner, Aaron Stempel (Mark Lenard), seems to have been inspired by a real person - sawmill owner Henry Yesler, whose cheap, highly combustible lumber was one of the reasons for the Great Seattle Fire of 1888. As described in the history book "Seattle" by Nard Jones, Yesler was an unrepentant creep (a good deal worse than Stempel, actually) whose response to a lynching in the town square was to tell the newspaper, "It's the only fruit that tree ever bore, but it sure is the sweetest!" Like Stempel, Yesler served on the town council...where one of his main agendas was to fight against the installing of indoor bathrooms! ("Who in hell would want a privy right next to his bedroom?")
When I read this I was struck by the likelihood of some deliberate borrowing from history on the show. It makes me wonder how many other characters might have had some inspiration in the real world...