One day I was shooting the fertilizer with David. David was one of the "Utility" guys in the Body Shop and moved around as unexpected absences happened.
Hunting was David's passion.
He told me about going to Ontario with his family to hunt moose. They got out of their vehicles and were moving their cased firearms to the hotel room. They had an equal number of .300 Winchester Magnums and 30-06s and a single .308 Winchester in the armory.
As the hunting party mingled with the townfolk to get intelligence about the best place to find moose they encountered several of the local Cree (Indian tribe). To a man, the Cree used battered relics with iron sights that were chambered in 30-30 to harvest their moose.
The Great White Hunters from Michigan learned that moose are not hard to kill. Get close. Shoot them in the rib-cage behind the shoulder. Let them run into the deepest water nearby. Let them die. Send the young kid in with a long rope to tie to the antlers. Have a come-along handy to pull them out.
Moose are not hard to kill but can be the fair devil to extricate from where they choose to die.
What about whitetail deer?
So if a 30-30 Winchester carbine flinging a 170 grain, round-nosed bullet with an impact velocity of 1800 feet-per-second is adequate for moose, what is a defensible "floor" for a deer cartridge?
This question has been responsible for the consumption of large amounts of beer because there is no single answer. Your initial assumptions dictate where you are likely to end up.
For instance, if you hunt in the cholla and thorn-scrub of Texas then you want bang-flops which means central nervous system hits which means very accurate, flat-shooting rounds.
If where you are hunting is not heavily hunted and you will not lose your game to other people tagging it, and if the cover is favorable to tracking, then bullets that pass through the game and leave an exit-hole are desirable.
Let us look back to the hey-day of market hunting and see what those guys used. After all, they shot-and-killed game on an industrial scale, filling up train-cars with animal carcasses. Individually, they killed hundreds of times more game than most modern hunters.
Blackpowder cartridges
Two cartridges stand out as "plenty-enough". Remember, lots of shooting meant buying and carrying lots of ammo. Enough was plenty.
44-40
Loaded with 40 grains of blackpowder, the 44-40's ballistics looked like a very anemic .44 Remington Magnum.
From a carbine, it launched a 200 grain, soft, lead bullet at about 1250 feet-per-second. That compares to the .44 Magnum launching a 240 grain bullet at 1800 fps. 20% heavier and 50% faster.
The .44-40 didn't have any problem killing deer even at 100 yards. The velocity and energy levels at 100 yards looked much like a 40 S&W handgun at the muzzle.
The problem was that the trajectory limited the round to 125 yards unless you were gifted at estimating range.
32-40
Like the 44-40, the 32-40 was originally loaded with 40 grains of blackpowder.
It fired a 160 grain bullet of .323" vs the .44-40's 0.429" diameter and its starting velocity was a little bit higher at 1400 feet-per-second.
That compares to a 158 grain .357 Magnum fired out of a carbine's velocity of 1750fps.
Those differences added about 25 yards to the 32-40 range vs the 44-40.
In New England the 32-40 was considered adequate for MOOSE with the caveat that you picked your shots. Hitting the shoulder bone would likely "splash" the bullet and it would not penetrate to the heart-lungs.
Mimicking those old-time ballistics
If you are a retro-minimalist, you can mimic those market-hunter ballistics by loading cast bullets in a 30-30 Winchester. Gas-checked, 170 grain bullets cast from 50:50 lead:wheelweights with gas-checks will be a close match for the 32-40 terminal ballistics. According to Lyman's 49th Reloading Handbook 10.5 grains of Unique in a 30-30 will drive them at a velocity of about 1500 fps. If you want a little more horsepower then 18 grains of Alliant 2400 will deliver a muzzle velocity of about 1800 fps.
Neither of these loads produce much recoil.
Bonus image
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Image too good to not post. Source
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Impact velocities of the last four bullets shown on the right were about 1500fps for the first two, then 1400fps and 1300fps respectively as calculated by the
Hornday Ballistic Calculator. This image suggests that straight, air-cooled wheelweights are too hard to get reliable, down-range mushrooming when launched at original 32-40 velocities.