Eric, I bought a pillar drill off a guy and he gave me this for free.
I don't know why the photos are upside down, they are okay on my phone but when I up load them the site turns them over.
Mike, there is a pulley on the motor shaft and another pulley on the geared shaft connected to it. The second pulley rotates in the opposite direction to the motor shaft and turns once for every 2.75 turns of the motor shaft. There are two pulley on the from shaft that line up with the drive pulleys. The lever raises and lowers the front shaft. The pulleys on the front shaft seem to free wheel although there appears to be some resistance on the top pulley.