Whoever did the 12 Volt "conversion was too inept or too lazy to put a #194 lamp, a diode, or a resistor in the lead to the alternator's #1 ("excite") terminal, so they simply fed it from an "always hot" source through a momentary switch. Now, you have either a shorted wire from the momentary switch to the alternator's #1 terminal, or a fried voltage regulator, diode trio, rectifier, or stator winding in your alternator. You need to start by verifying your electrical system's ground polarity, and then take the alternator in for a test. (You do have the 12-Volt battery hooked up (-) ground to match the alternator, I hope?) The 5TH diagram from the top, at the link posted below, will be pretty close to where you want to be with the wiring, with the exception that the 9N would have a manual starter switch, rather than the solenoid shown.
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