Classic/Antique Car Repair: 1934 Plymouth PE, hydraulic brakes, rear wheels

Question
I'm new to this.  I recently acquired a 34 Plymouth 4 dr PE that is in original condition.  Aside from the windows being foggy and the carpeting and roof being unservicable, the gauges, lights, mechanisms, etc all work except for the "Free Wheeling."

It is still mounted near the master cylinder but is disconnected.  Please tell me about the free wheeling---how it hooks up and how it works.  Also, is it something I should try to get working or not?  I would like to keep it original.

Thanks a bunch!!

Answer
Congratz on your new toy. Now the first part of the answer is just my opinion and not based on scientific fact but If it was my car I would leave the free wheeling disconnected. Free wheeling is a one way clutch set up built into the transmission that will allow power from the engine to be delivered from the engine to the rear wheels when stepping on the gas pedal. However when you lift off the throttle the one way clutch over runs and allows the car to coast just like stepping on the clutch. The problem is the early brakes, even though Plymouth had hydraulic brakes unlike Chevrolet and Ford, they were still not very good and many accidents were recorded due to free wheeling. But to answer your original question there was a cable from the knob to the side of the transmission to operate the unit. If there is no place on the transmission it is possible that a later transmission had been installed in the car somewhere in its life.
Brad