I did see the rotary switch for off, forward and reverse a good feature to keep with that motor.
Code; very common with these old motors even fully enclosed like this one that they went with bushings instead of ball bearings. Typical of old Westinghouse motors. Just keep them lubed before the bushings get destroyed by letting them run dry. I bet they are dry from years of storage with the cotton wicking dry inside. That thing looks like it'll crush gold ore rocks.