Hi Paul,
there is another thread with one of these, just search Tampico Falcon and it will come up with heaps of pictures. The pulley is an idler pulley under what appears to be a dog clutch to engage the PTO operated by the left hand foot pedal but at the moment it is all seized up. The belt from that then goes to the large pulley which is forward of the motor which is actually an idler pulley with another on top to allow the beastie to steer. The second part of that pulley runs a right angle drive directly above the front wheel which then drives a chain and sprocket set up to drive the front wheel.
I will be pulling it down to unseize everything and then make a decision about what happens next. I have plenty of similar B&S motors around with the vertical pull start to get the engine running again, biggest problem I think will be finding a decent seat or repairing the one that is on it, fibre glass matted over steel brackets. I'll post detail picks during the pull down.