Time Machine back up failed ~ can I save initial file

I was using a USB Western Digital drive to back up my computer with time machine. The drive failed. When I try to use it it gives me warning that it is on its last leg and to back it up before it goes belly up. I bought a new Seagate 1T USB drive to use for the time machine. I did a new initial scan of my computer, so at least I have my files backed up. Can I save the initial scan from the WD drive to the Seagate, it was done when my computer was brand new and would be nice to be able to go back to that time if I ever needed to.

Thanks
Denise

Go to this link on Apple's support website: Mac 101: Time Machine

The information you want is near the bottom where it says Mac OS X v10.6: How to transfer your backups from your current hard drive to a new hard drive.