Howdy
Thomas K Bacon started several different firearms companies. For a time he was employed by the Manhattan Firearms Manufacturing Company. This was at the time when Colt's original patents on revolvers were due to expire and several companies were waiting for the patents to expire so they could begin manufacturing Cap & Ball Revolvers. Later, Bacon left Manhattan and started his own company, the Bacon Manufacturing Company. I have come across several of his revolvers at various times. Bacon got in a patent dispute with Smith and Wesson in the 1850s because he was producing a revolver with bored through cylinders, in violation of the Rollin White patent, which S&W controlled. I'm not sure if the courts forced him to stop producing his cartridge revolvers or not, but I do know he got in hot water over the patent violation.
I came across a Bacon revolver similar to yours in an antique shop in Gettysburg last year. I was surprised to see the 1855 marking on it because White was granted his patent in 1855. S&W did not bring out their first revolver until 1857, but the patent had been in force since 1855.
Here is a link with lots of interesting information about Manhattan and Bacon firearms.
http://www.baconfirearms.com/
Regarding 32 Rimfire cartridges, Smith and Wesson developed the first 32 Rimfire in 1860, for the #2 Old Army model which was first produced in 1861.
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