Well, at least you found your problem, impeller not being driven. As far as the springs, the idea of the springs is to push the impeller forward making contact internally on the shoulder of the water pump impeller to the bushing. This establishes correct clearance for impeller fins to housing. Let me predict your next problem, not nearly as serious though. It will not come up to operating temp due to the corrosion in that housing allowing coolant to flow around the tube. It doesn't look too bad but they never fit really close even when new. In the diesel engines there is room to machine a groove for a seal which was used on later model diesel tractor so it prevents coolant from getting past that tube and directly into radiator. Like I said before, you can easily tell if coolant is leaking past by observing flow in tank when engine is cold and running. This is the most common reason for these old farmalls not warming up with out a load on them.
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Today's Featured Article - Tractor Profile: Farmall M - by Staff. H so that mountable implements were interchaneable. The Farmall M was most popular with large-acreage row-crop farmers. It was powered by either a high-compression gas engine or a distillate version with lower compression. Options included the Lift-All hydraulic system, a belt pulley, PTO, rubber tires, starter, lights and a swinging drawbar. It could be ordered in the high-crop, wide-front or tricycle configurations. The high-crop version was called a Model MV.
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