As long as the barrels aren't dented, bulged or badly pitted inside, it should be safe to shoot with modern ammunition. Just as an example and for your information, 12 ga ammunition from when your gun was made was 7,000 + PSI. Modern 12 ga ammo is 20,000 + PSI. Big difference. If you are going to restore it, do it properly. Don't be getting out the power sander. I can give you a lot of tips if that is your goal. I can also do it for you. I work as a smith at a federally licensed shop and I specialized in old doubles. I'm not trying to generate biz for myself but before you go too far and ruin it's good to talk to one who knows. PM me some pics of this little gem. How is the wood? Crescents are usually pretty busted up inside by the time they get this old. Here are some links to a Quail I did for a fellow pelican:
http://forums.pelicanparts.com/off-topic-discussions/641241-410-finally-finished.html
http://forums.pelicanparts.com/off-topic-discussions/636635-410-update.html
http://forums.pelicanparts.com/off-topic-discussions/640195-little-410-ready-assemble.html