Yes, but you have to figure out how to disengage another gear. 3rd post, 3rd pic, to the right of spindle pulley what is under that cover? Should be a gear, look at face of it for a knob to pull.corn binder I think you are right . yes there is a lever to the left behind the main shaft with a set of gears. like you said when I pull or engage that lever it locks the main shaft for removal of the jaw chuck. so when this is engaged it will run at a slower speed?
Agreed. It looks like somebody swapped out the jackshaft arrangement for the variable speed drive.Looks like someone made a vee groove in that large flat belt pulley