Thanks for all of the information. I've messed around with the carb and timing all day and still have the same result. I talked to my dad (who owns the tractor)and was filled in on some information. Maybe this will help. He told me that as long as he has owned the tractor, it has never ran right. He used to run alot of hay fields in his day and every H he has ever been on sounds like a "swarm of bees" when it is running right. This one is like a mixture of bees and a JD A. It has a constant POP to it. It doesn't matter if it's idling or running at high rpms. It doesn't matter when I mess with the timing to carb, the POP never stops. I've checked the compression and each cylinder is running between 65 and 68. I've replaced the spark plugs, condenser, wires, cap and rotor. The only thing I noticed when I started working on it was the 1 wire was where the 4 wire should have been. Dad had said that the guy that owned it before him had the engine worked on. Could it be possible that the timing could be out since the wiring is off? One last thing. Dad always had to turn the governer screw up in order to get any kind of power out if it. But doing this, it would never idle. I really appriciate everyone's comments. I am sure I will get it figured.
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