I would agree with Stev/MD. If you were experienced and discipline of to keep the shots 50yds or less, know the anatomy of a deer (were the heart is exactly), capable of placing the shots in a 4" circle out to 50yds and do so while the adrineline in flowing like crazy, then it will kill deer. But it will not anchor them on the spot, uless you break neck or spine.

The M1 carbines are neat little guns and somewhat in demand, so I would look at maybe selling it or trading it for something more potent to deer hunt with.