Re: 1959 35 hp seahorse magneto?
"Magneto" as generally used on old outboards refers to the ignition system. Yes it has one of those.
Now, if you mean "Generator" or "Alternator" for charging the battery, the answer is no, not as supplied from the factory. However, a DC generator kit was available as an accessory. If you have one, it will be obvious--sitting opposite the starter motor and driven by a notched belt.