32 H&R magnum ammo is a relatively new round developed in the 1980s on a joint development deal from Harrington and Richardson and Federal cartridge company. The 32 H&R magnum was designed to offer a small concealable revolver with more punch than your standard small bore revolvers. The design was advanced enough to offer 38 Special energy levels with ability to squeeze 6 rounds whereas a similar sized 38 special could only hold 5 rounds.
The 32 H&R mag is a lightweight round that can that offers low recoil with high enough performance to be a capable self-defense cartridge. The round is known to be a solid penetrator, and can reach velocities of up to 1200 feet per second from short barreled concealed carry weapons. While the ammunition was designed as a small, controllable, and concealable weapon the round has been proven to be a decent hunting round.
Marlin produced a lever action 1894CB rifle that was lightweight and capable of holding ten rounds of ammunition. This cartridge in a rifle became known as a reliable small game cartridge for rabbits, coyotes and etc. The 32 H&R offers an advantage over the 22 magnum by being a more reliable centerfire cartridge that can be reloaded.