The .32 S&W short and long actually didn't have much of either - velocity or energy! Seriously though, Frank Barnes in his "Cartridges of the World" lists the factory black powder loads as follows:
.32 S&W (short) - 9.0 grains Fg at 680 fps for 90 ft-lbs of energy. (85 grain lead bullet)
.32 S&W Long - 13.0 grains Fg at 780 fps for 132 ft-lbs of energy. (96 grain lead bullet)
I find Fg black powder to be a rather coarse granulation to choose for this small caliber, but that's what it says.
I occasionally fire .32 S&W short in my break-top...I'm wondering when they made the transition from black powder to smokeless and what the first model was for firing smokeless? (sorry if I'm going too far off topic)I have a quantity of old .32 S&W ammo that I shoot every now and again.
It compares to some of the light black powder loads in the same caliber.
It may not be a powerhouse, but those 32 rimfire pistols were the end of many men and women in their time, and they are still lethal today.