Cool stuff, Henry. The .32-40 was one of the most popular chamberings in Schuetzen rifles back in the day; it worked well with black or the early "bulk" smokeless powders. It was used in all three guises as well; breech/muzzle loader, breech seated, or in fixed ammunition.
One thing, though - that jacketed bullet has to go. The Schuetzen purists will drum you out of the corps
Did you get a bullet mold for the .32-40? Or are both barrels .32's, so you can use the same mold for both? If not, Lyman still makes all of the traditional molds that were popular in this caliber, and Paul Jones will cut custom molds for it as well. Those are Lyman blocks your friend used to cut his mold, and Lyman handles.