The I&P load was loaded with Hercules HiVel-2 powder, the standard corrosive military primer, and the 173 grain bullet. The exact powder charge varied with the specific burning characteristics of each Lot of HiVel-2. Velocity was very close to 2200 feet per second and pressure ran between 28,000 and 29,500 psi. The load was developed for the international 300 meter military match shooting of the late 1920s and continued in use through the early 1930s. The load was extremely accurate.
A friend has one of the Hammerli Martini match rifles barreled by Springfield Arsenal in the late 1920s. We have reproduced that load using old 173 grain bullets and an equally old can of HiVel-2 powder. The load is still extremely accurate. The load can be duplicated with any of the present match bullets and 38.8 grains of IMR-3031.
I find the I&P terminology puzzling. The International load was relatively low velocity and low pressure, intended for 300 meter matches. Palma loads are intended for long range matches; 600, 800 and 1,000 yards in stages. Velocity for Palma loads was more than 2700 feet per second and pressures were high. Some Palma shooters used a piece of pipe over the bolt handle for additional leverage to pry the fired cartridge loose. Both loads used the same cases. Only the box label (or weighing a cartridge) would tell them apart.