H&R didn't do a good job back then marking their barrels, but what I can figure is if it can chamber a .32 S&W Long, it's meant to fire it.
I have an H&R with the cartridge marked on the barrel indicating it's meant for smokeless and it's a 6 round model that chambers and fires .32 S&W Long. From what I have been told it's the 5 shot models that were .32 S&W Short only and the cylinder on those is a lot shorter than the 6 round models.
I would stick to just lead bullets and whatever is weakest for plinking, which would be the .32 wadcutter ammo, which is also the cheapest ammo in .32 S&W Long. If you intend to use this for any defensive shooting, get a lead round nose or semi-wadcutter, a bit more power, but still safe in these old guns.
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