The 300 Savage was developed by Savage Arms Co. in 1920. The 300 Savage was intended as a cartridge that would work trough medium-length actions and deliver ballistics similar to the 30-06 Springfield. The original factory load used a 150-grain bullet and matched the original 30-06 sporting load at 2700 fps. It is not fully adequate for moose or brown bear, but it is a fine deer and elk cartridge. It is a better choice then the 30-30 for deer under any conditions. The 308 Winchester fulfills the same function as a short-action cartridge and has somewhat more power, so it has gradually replaced the 300 Savage. 

This text is based on information from “Cartridges of the World”, Hodgdon reloading manual, the cartridge designer and/or own resources.