How deep a cut are you taking and what is your feed rate? You quote your feed rate as 50 sfm??? Normally, feed rates are given in inches/millimeters per minute. 50 SFPM is a reasonable material speed to use to calculate your RPM. I don't know what size your cutter is, so I can't tell you if your RPM is correct.
You have to take off enough material and fast enough to avoid work hardening with 304 stainless. It hardens by cold working, not by heat. 304 is famous for work hardening. At the right feeds and speeds it cuts very nicely. At low feed rates, it hardens dramatically.
Normally, with a carbide tool you can increase RPM by 2-3 times over HSS. Feeds increased by 50 -100% (versus HSS tooling). Flood coolant helps a lot, but carbide tooling generally doesn't like intermittant cooling - the thermal shock cracks it.
If your RPMs are correct for the material, then my guess is your chip load is too small. Try increasing the feed rate or taking a bigger cut.
Hope this helps,
George