Congratulations, you've found the rectifier/voltage regulator which rectifies AC from the alternator stator and controls battery charging, but doesn't have ANYTHING to do with it not running!. Part # stamped on it, 491546, positively identifies it as such.
Engine makes it's own power for spark, at each coil/ignition unit, NO battery power is needed.
There's two electronic ignition coils connected in common through diodes to the "kill" wire or terminal on the engine. (second wire leaving the engine, besides wire from the regulator). The key switch/and/or safety switches ground this to chassis ground to stop the engine or prevent it from starting.
Disconnect that second wire and the ignition system of the engine is on it's own and spark should return.
Just remember, if it starts with that wire disconnected, the key switch won't shut it off!
If it DOES spark with the "kill" wire disconnected you can then trace the wiring in the machine and see what's shorted or what safety switch is shorting the "kill"wire to ground.
If spark does NOT return, you'll have to look under the flywheel shrouding to see if anything has happened to that wiring harness connecting the coils, as it's pretty unlikely BOTH coils have failed.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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