The most likely cause is gummed up carb from sitting with dried up ethanol gas in the bowl.
But before blaming the fuel system entirely, do some other basic checks. Be sure the ignition system is up to par. There should be a minimum 1/4" spark to ground at each plug wire, at the plug end. Check the points condition and gap, check the distributor shaft for side play, check the centrifugal advance, the rotor should turn a few degrees CCW and spring back when released.
There is a drain plug in the bottom of the carb bowl. With the engine off, fuel valve open, get a clean glass, remove the plug and catch the flow of gas.
It should have a steady flow, and continue to flow as the bowl empties out. If it slows to a drip, or stops flowing, there is a restriction.
Could be the float stuck, the screen at the fuel inlet elbow of the carb, or a restriction at the screen in the sediment bowl or inside the tank.
Try taking the line off at the carb, see if there is flow there, trace the problem toward the tank until you find the restriction.
Look at what was caught in the glass (if anything). If it is dirty, cloudy,water on the bottom, the tank is contaminated. The same will be inside the carb.
The first thing will be removing and cleaning the tank. Unless that has already been done, very good chance the tank is full of rust and whatever collects over the years. Also a good chance cleaning it will result in it leaking, so be prepared, it may be time for a new tank.
Once you establish a good flow through the carb, try again, see if it will run. If not, try backing the main jet adjusting screw (the larger screw) out 1/4 turn at a time, trying to get it to run without choke. When properly adjusted it will take full and sudden throttle without hesitation.
If it won't adjust out, the carb may need to come apart and be cleaned. Don't be afraid of it! They are very simple, designed for field service by the novice owner. Many times it can be eased apart, cleaned and reassembled without needing anything. If it's in bad shape, a repair kit can be bought on this site. Youtube is a valuable source for how to information. Work over a clean solid surface so nothing gets lost.
Check the air cleaner. There is a wire mesh inside the canister that is often overlooked. It will get packed with dirt and have to come out and be cleaned or replaced. Not easy, but doable.
If still having doubt, a compression test will be in order. A sick engine will never run right, everything works together for satisfactory performance.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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