I've got a .32 Spec. that I've had for years. It's taken a Book black bear and several whitetail bucks, all with one shot each. It is my backup brush gun. I've reloaded for it. When I couldn't find cartridges, I made some out of .30-30 cartridges. I put a pinch of powder in the cartridge and packed it full of oatmeal. It fireformed into a perfect .32.
I cast my own 150 gr. bullets for small game hunting. I've shot more rabbits and squirrels with it than anything. My small game loads are a .38 special cartridge full of IMR 3031 packed against the primer with toilet paper. It's squirrel accurate out to about 40 yd. when my jacketed deer loads are on at 100 yd. My handloads cost about as much to shoot as a .22. It was designed at the turn of the century for jack pine savages who didn't entirely trust that new-fangled smokeless powder.
It was designed to be shot either with smokeless powder and jacketed bullets or black powder and lead bullets. It's got a slower rifling twist than a .30-30 so that you could shoot lead bullets without having them strip through the rifling. It's a pretty neat gun/cartridge.